Common use of Waiver and Estoppel Clause in Contracts

Waiver and Estoppel. (a) Each Grantor agrees, to the extent it may lawfully do so, that it will not at any time in any manner whatsoever claim, or take the benefit or advantage of, any appraisement, valuation, stay, extension, moratorium, turnover or redemption law, or any law permitting it to direct the order in which the Collateral shall be sold, now or at any time hereafter in force, which may delay, prevent or otherwise affect the performance or enforcement of this Agreement or any Security Document and hereby waives all benefit or advantage of all such laws and covenants that it will not hinder, delay or impede the execution of any power granted to the Collateral Agent in this Agreement or any Security Document but will suffer and permit the execution of every such power as though no such law were in force; provided that nothing contained in this Section 2.6(a) shall be construed as a waiver of any rights of the Grantors under any applicable federal bankruptcy law or state insolvency law.

Appears in 3 contracts

Samples: Collateral Sharing Agreement (Lucent Technologies Inc), Collateral Sharing Agreement (Lucent Technologies Inc), Collateral Sharing Agreement (Lucent Technologies Inc)

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Waiver and Estoppel. (a) Each Grantor Obligor agrees, to the extent it may lawfully do so, that it will not at any time in any manner whatsoever claim, or take the benefit or advantage of, any appraisementappraisal, valuation, stay, extension, moratorium, turnover or redemption law, or any law permitting it to direct the order in which the Collateral shall be sold, now or at any time hereafter in force, which may delay, prevent or otherwise affect the performance or enforcement of this Agreement or any other Security Document and hereby waives all benefit or advantage of all such laws and covenants that it will not hinder, delay or impede the execution of any power granted to the Collateral Agent Trustee in this Agreement or any other Security Document but will suffer and permit the execution of every such power as though no such law were in force; provided that nothing contained in this Section 2.6(aclause (a) shall be construed as a waiver of any rights of the Grantors such Obligor under any applicable federal bankruptcy law or state insolvency law.

Appears in 2 contracts

Samples: Credit Agreement (Champion Enterprises Inc), Credit Agreement (Champion Enterprises Inc)

Waiver and Estoppel. (a) Each The Grantor agrees, to the extent it may lawfully do so, that it will not at any time in any manner whatsoever claim, or take the benefit or advantage of, any appraisement, valuation, stay, extension, moratorium, turnover or redemption law, or any law permitting it to direct the order in which the Collateral shall be sold, now or at any time hereafter in force, which may delay, prevent or otherwise affect the performance or enforcement of this Collateral Trust Agreement or any Security Document and hereby waives all benefit or advantage of all such laws and covenants that it will not hinder, delay or impede the execution of any power granted to the Collateral Agent Trustee in this Collateral Trust Agreement or any Security Document but will suffer and permit the execution of every such power as though no such law were in force; provided that nothing contained in this Section 2.6(asubsection 2.7(a) shall be construed as a waiver of any rights of the Grantors Grantor under any Security Document or applicable federal bankruptcy law or state insolvency lawBankruptcy Law.

Appears in 2 contracts

Samples: Collateral Trust Agreement (Blockbuster Inc), Collateral Trust Agreement (Blockbuster Inc)

Waiver and Estoppel. (a) Each Grantor agreesThe Grantor, to the extent it may lawfully do so, agrees that it will not at any time in any manner whatsoever claim, claim or take the benefit or advantage of, of any appraisement, valuation, stay, extension, moratorium, turnover or redemption law, or any law now or hereafter in force permitting it to direct the order in which the Collateral shall be sold, now or at any time hereafter in force, sold which may delay, prevent or otherwise affect the performance or enforcement of this Security Agreement or any Security Document and the Grantor hereby waives all benefit the benefits or advantage of all such laws laws, and covenants that it will not hinder, delay or impede the execution of any power granted to the Collateral Agent Secured Party in this Security Agreement or any Security Document but will suffer and permit the execution of every such power as though no such law were in force; provided that nothing contained in this Section 2.6(a) 5.8 shall be construed as a waiver of any rights of the Grantors Grantor under any applicable federal bankruptcy law or state insolvency law.

Appears in 1 contract

Samples: Second Lien Security Agreement (Summer Energy Holdings Inc)

Waiver and Estoppel. (a) Each Grantor Obligor agrees, to the extent it may lawfully do so, that it will not at any time in any manner whatsoever claim, or take the benefit or advantage of, any appraisement, valuation, stay, extension, moratorium, turnover or redemption law, or any law permitting it to direct the order in which the Collateral shall be sold, now or at any time hereafter in force, which may delay, prevent or otherwise affect the performance or enforcement of this Trust Agreement or any Trust Security Document and hereby waives all benefit or advantage of all such laws and covenants that it will not hinder, delay or impede the execution of any power granted to the Collateral Agent Trustee in this Trust Agreement or any Trust Security Document but will suffer and permit the execution of every such power as though no such law were in force; provided that nothing contained in this Section 2.6(a2.7(a) shall be construed as a waiver of any rights of the Grantors Obligors under any applicable federal bankruptcy law or state insolvency law.

Appears in 1 contract

Samples: Trust Agreement (Anc Rental Corp)

Waiver and Estoppel. (a) Each Grantor agrees, to the extent it may lawfully do so, that it will not at any time in any manner whatsoever claim, or take the benefit or advantage of, any appraisement, valuation, stay, extension, moratorium, turnover or redemption law, or any law permitting it to direct the order in which the Collateral shall be sold, now or at any time hereafter in force, which may delay, prevent or otherwise affect the performance or enforcement of this Agreement or any Security Document and hereby waives all benefit or advantage of all such laws and covenants that it will not hinder, delay or impede the execution of any power granted to the Collateral Agent in this Agreement or any Security Document but will suffer and permit the execution of every such power as though no such law were in force; provided PROVIDED that nothing contained in this Section 2.6(a) shall be construed as a waiver of any rights of the Grantors under any applicable federal bankruptcy law or state insolvency law.

Appears in 1 contract

Samples: Collateral Sharing Agreement (Lucent Technologies Inc)

Waiver and Estoppel. (a) Each Grantor agrees, to the extent it may lawfully do so, that it will not at any time in any manner whatsoever claim, or take the benefit or advantage of, any appraisement, valuation, stay, extension, moratorium, turnover or redemption law, or any law permitting it to direct the order in which the Collateral shall be sold, now or at any time hereafter in force, which may delay, prevent or otherwise affect the performance or enforcement of this Agreement or any Security Financing Document and hereby waives all benefit or advantage of all such laws and covenants that it will not hinder, delay or impede the execution of any power granted to the Collateral Agent Trustee in this Agreement or any Security Financing Document but will suffer and permit the execution of every such power as though no such law were in force; provided that nothing contained in this Section 2.6(a6.05(a) shall be construed as a waiver of any rights of the Grantors under any applicable federal bankruptcy law or state insolvency law.

Appears in 1 contract

Samples: Security Agreement (Constar International Inc)

Waiver and Estoppel. (a) Each Grantor agrees, to the extent it may lawfully do so, that it will not at any time in any manner whatsoever claim, or take the benefit or advantage of, any appraisement, valuation, stay, extension, moratorium, turnover or redemption law, or any law permitting it to direct the order in which the Collateral shall be sold, now or at any time hereafter in force, which may delay, prevent or otherwise affect the performance or enforcement of this Agreement or any Security Document and hereby waives all benefit or advantage of all such laws and covenants that it will not hinder, delay or impede the execution of any power granted to the Collateral Agent in this Agreement or any Security Document but will suffer and permit the execution of every such power as though no such law were in force; provided that nothing contained in this Section 2.6(a2.06(a) shall be construed as a waiver of any rights of the Grantors under any applicable federal bankruptcy law or state insolvency law.

Appears in 1 contract

Samples: Collateral Sharing Agreement (Crown Cork & Seal Co Inc)

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Waiver and Estoppel. (a) Each Grantor agreesGrantor, to the extent it may lawfully do so, agrees that it will not at any time in any manner whatsoever claim, claim or take the benefit or advantage of, of any appraisement, valuation, stay, extension, moratorium, turnover or redemption law, or any law now or hereafter in force permitting it to direct the order in which the Collateral shall be sold, now or at any time hereafter in force, sold which may delay, prevent or otherwise affect the performance or enforcement of this Agreement or any Security Document and each Grantor hereby waives all benefit the benefits or advantage of all such laws laws, and covenants that it will not hinder, delay or impede the execution of any power granted to the Collateral Administrative Agent in this Agreement or any Security Document but will suffer and permit the execution of every such power as though no such law were in force; provided that nothing contained in this Section 2.6(a) 6.09 shall be construed as a waiver of any rights of the Grantors such Grantor under any applicable federal bankruptcy law or state insolvency law.

Appears in 1 contract

Samples: Guarantee Agreement (Isg Resources Inc)

Waiver and Estoppel. (a) Each Grantor agreesGrantor, to the extent it ------------------- may lawfully do so, agrees that it will not at any time in any manner whatsoever claim, claim or take the benefit or advantage of, of any appraisement, valuation, stay, extension, moratorium, turnover or redemption law, or any law now or hereafter in force permitting it to direct the order in which the Collateral shall be sold, now or at any time hereafter in force, sold which may delay, prevent or otherwise affect the performance or enforcement of this Agreement or any Security Document and each Grantor hereby waives all benefit the benefits or advantage of all such laws laws, and covenants that it will not hinder, delay or impede the execution of any power granted to the Collateral Agent in this Agreement or any Security Document but will suffer and permit the execution of every such power as though no such law were in force; provided that -------- nothing contained in this Section 2.6(a) 6.09 shall be construed as a waiver of any rights of the Grantors such Grantor under any applicable federal bankruptcy law or state insolvency law.

Appears in 1 contract

Samples: Pledge and Security Agreement (Firearms Training Systems Inc)

Waiver and Estoppel. (a) Each Grantor agreesPledgor, to the extent it may lawfully do so, agrees that it will not at any time in any manner whatsoever claim, claim or take the benefit or advantage of, of any appraisement, valuation, stay, extension, moratorium, turnover or redemption law, or any law now or hereafter in force permitting it to direct the order in which the Collateral shall be sold, now or at any time hereafter in force, sold which may delay, prevent or otherwise affect the performance or enforcement of this Pledge Agreement or any Security Document and each Pledgor hereby waives all benefit the benefits or advantage of all such laws laws, and covenants that it will not hinder, delay or impede the execution of any power granted to the Collateral Agent in this Pledge Agreement or any Security Document but will suffer and permit the execution of every such power as though no such law were in force; provided provided, that nothing contained in this Section 2.6(a) 6.8 shall be construed as a waiver of any rights of the Grantors such Pledgor under any applicable federal Federal bankruptcy law or state the insolvency lawlaws of any other jurisdiction.

Appears in 1 contract

Samples: Pledge and Security Agreement (Kendle International Inc)

Waiver and Estoppel. (a) Each Grantor The Company agrees, to the extent it may lawfully do so, that it will not at any time in any manner whatsoever claim, or take the benefit or advantage of, any appraisement, valuation, stay, extension, moratorium, turnover or redemption law, or any law permitting it to direct the order in which the Collateral shall be sold, now or at any time hereafter in force, which may delay, prevent or otherwise affect the performance or enforcement of this Trust Agreement or any Security Document the Pledge Agreement and hereby waives all benefit or advantage of all such laws and covenants that it will not hinder, delay or impede the execution of any power granted to the Collateral Agent Trustee in this Trust Agreement or any Security Document the Pledge Agreement but will suffer and permit the execution of every such power as though no such law were in force; provided PROVIDED that nothing contained in this Section 2.6(asubsection 2.7(a) shall be construed as a waiver of any rights of the Grantors Company under any applicable federal bankruptcy law or state insolvency law.

Appears in 1 contract

Samples: Joinder Agreement (Worthington Industries Inc)

Waiver and Estoppel. (a) Each Grantor agrees, to the extent it may lawfully do so, that it will not at any time in any manner whatsoever claim, or take the benefit or advantage of, any appraisement, valuation, stay, extension, moratorium, turnover or redemption law, or any law permitting it to direct the order in which the Collateral shall be sold, now or at any time hereafter in force, which may delay, prevent or otherwise affect the performance or enforcement of this Agreement or any Security Collateral Document and hereby waives all benefit or advantage of all such laws and covenants that it will not hinder, delay or impede the execution of any power granted to the Administrative Agent or the Note Collateral Agent in this Agreement or any Security Collateral Document but will suffer and permit the execution of every such power as though no such law were in force; provided that nothing contained in this Section 2.6(a5.5(a) shall be construed as a waiver of any rights of the Grantors under any applicable federal bankruptcy law or state insolvency law.

Appears in 1 contract

Samples: Collateral Agency Agreement (Revlon Consumer Products Corp)

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