Waiver of Priority of Collection Sample Clauses

Waiver of Priority of Collection. Each El Paso Settling Party hereby waives all rights under California Civil Code Sections 2845 or 2849 to require the Settlement Fund or its designee(s) first to proceed against the Collateral, against another El Paso Settling Party or El Paso Pledgor, or to exercise in any particular order any right provided for herein or in any other document delivered by or on behalf of any El Paso Settling Party or El Paso Pledgor under or in connection with this Agreement (including any of the Security Documents). All rights and remedies of the Settlement Fund and their designee(s) under this Paragraph 9 and in the other documents delivered by or on behalf of any El Paso Settling Party under or in connection with this Agreement (including any of the Security Documents), shall be cumulative and may be exercised singularly or concurrently.
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Waiver of Priority of Collection. Borrower waives any rights it may have to require Lender to proceed against any other party or to pursue any other remedy in Lender's power which Borrower could not pursue which would lighten Borrower's burden, as guarantor. In addition, Borrower waives any right it may have to benefit from every security which now or hereafter exists for the performance of the Obligations or for the performance of any other guarantor's obligations owing to Lender. If Lender decides to proceed first to exercise any other remedy or right, or to proceed against another person or any collateral, Lender retains any and all of its rights created under this Section.
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Waiver of Priority of Collection. Guarantor waives any rights Guarantor may have to require Lender to proceed against the Borrower or to pursue any other remedy in Lender's power which Guarantor cannot pursue which would lighten Guarantor's burden. In addition, Guarantor waives Guarantor's right to benefit from every security which now or hereafter exists for the performance of the Guarantied Obligations or for the performance of any other guarantor's obligations owing to Lender. If Lender decides to proceed first to exercise any other remedy or right, or to proceed against another person or any collateral, Lender retains all of Lender's rights under this Guaranty.
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Waiver of Priority of Collection. Guarantor waives any rights it CAPITAL EXPENDITURES Creditor first to take any of the actions referred to above in this Section. If Creditor decides to proceed first to exercise any other remedy or right, or to proceed against another person or any collateral, Creditor retains all of its rights under this Guaranty.
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Waiver of Priority of Collection. Guarantor waives any rights Guarantor may have to require Factor to proceed against the Client or to pursue any other remedy in Factor's power which Guarantor cannot pursue which would lighten Guarantor's burden. In addition, Guarantor waives Guarantor's right to benefit from every security which now or hereafter exists for the performance of the Guarantied Obligations or for the performance of any other guarantor's obligations owing to Factor. If Factor decides to proceed first to exercise any other remedy or right, or to proceed against another person or any collateral, Factor retains all of Factor's rights under this Guaranty.
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Waiver of Priority of Collection. Guarantor waives any rights Guarantor may have to require Agent or Lenders to proceed against the Borrowers or to pursue any other remedy in Agent’s or Lenders’ power which Guarantor cannot pursue and which would reduce Guarantor’s burden. In addition, Guarantor waives Guarantor’s right to benefit from every security which now or hereafter exists for the performance of the Guaranteed Obligations or for the performance of any other guarantor’s obligations owing to Agent or Lenders. If Agent decides to proceed first to exercise any other remedy or right, or to proceed against another Person or any Collateral, Agent retains all of Agent’s rights under this Guaranty.
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Waiver of Priority of Collection. Borrower waives any rights it may have to require SMB to proceed against any other party or to pursue any other remedy in SMB's power which Borrower could not pursue which would lighten Borrower's burden, as guarantor. In addition, Borrower waives any right it may have to benefit from every security which now or hereafter exists for the performance of the Obligations or for the performance of any other guarantor's obligations owing to SMB. If SMB decides to proceed first to exercise any other remedy or right, or to proceed against another person or any collateral, SMB retains any and all of it's rights created under this Section.
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Waiver of Priority of Collection. Guarantor waives any rights Guarantor may have to require OSP to proceed against the Company or to pursue any other remedy in OSP's power. In addition, Guarantor waives Guarantor's right to benefit from every security which now or hereafter exists for the performance of the Promissory Note, including any right the Guarantor has to require OSP to proceed against or exhaust such security. If OSP decides to proceed first to exercise any other remedy or right, OSP retains all of OSP's rights under this Guaranty.
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Waiver of Priority of Collection. Guarantor waives any rights it may have under California Civil Code §§ 2845 or 2849 to require TMCC first to take any of the actions referred to above in this Section. If TMCC decides to proceed first to exercise any other remedy or right, or to proceed against another person or any collateral, TMCC retains all of its rights under this Guaranty.
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Related to Waiver of Priority of Collection

  • Priority of Lien Transfer Agent consents to the granting of the security interest in the Pledged Shares. Transfer Agent will not agree with any third party that Transfer Agent will comply with instructions concerning the Pledged Shares originated by such third party without the prior written consent of Secured Party and Debtor.

  • Application of Proceeds of Collateral Notwithstanding anything to the contrary in this Agreement, in the case of any Event of Default under Section 9.1(i), immediately following the occurrence thereof, and in the case of any other Event of Default, upon the termination of the Revolving Credit Aggregate Commitment, the acceleration of any Indebtedness arising under this Agreement and/or the exercise of any other remedy in each case by the requisite Lenders under Section 9.2 hereof, the Agent shall apply the proceeds of any Collateral, together with any offsets, voluntary payments by any Credit Party or others and any other sums received or collected in respect of the Indebtedness first, to pay all incurred and unpaid fees and expenses of the Agent under the Loan Documents and any protective advances made by Agent with respect to the Collateral under or pursuant to the terms of any Loan Document, next, to pay any fees and expenses owed to the Issuing Lender hereunder, next, to the Indebtedness under the Revolving Credit (including the Swing Line and any Reimbursement Obligations), any obligations owing by any Credit party under any Hedging Agreements or in connection with any Lender Products on a pro rata basis, next, to any other Indebtedness on a pro rata basis, and then, if there is any excess, to the Credit Parties or as otherwise required under applicable law, as the case may be.

  • Priority of Notes Note A-1 and Note A-2 shall be of equal priority, and no portion of any of Note A-1 or Note A-2 shall have priority or preference over any portion of the other Note or security therefor. Except for the Excluded Amounts, all amounts tendered by the Borrower or otherwise available for payment on the Mortgage Loan, whether received in the form of Monthly Payments, a balloon payment, Liquidation Proceeds, proceeds under any guaranty, letter of credit or other instrument serving as security on the Mortgage Loan, proceeds under title, hazard or other insurance policies or awards or settlements in respect of condemnation proceedings or similar exercise of the power of eminent domain shall be distributed by the Master Servicer and applied to Note A-1 and Note A-2 on a Pro Rata and Pari Passu Basis. The Servicing Agreement may provide for the application of Penalty Charges paid in respect of the Mortgage Loan to be used to (i) pay the Master Servicer, the Trustee or the Special Servicer for interest accrued on any Property Advances, (ii) to pay the parties to any Securitization for interest accrued on any P&I Advance, (iii) to pay certain other expenses incurred with respect to the Mortgage Loan and (iv) to pay to the Master Servicer and/or the Special Servicer as additional servicing compensation, except that, for so long as Note A-2 is not included in a Securitization, any Penalty Charges allocated to Note A-2 that are not applied pursuant to clauses (i)-(iii) above shall be remitted to the respective Holder and shall not be paid to the Master Servicer and/or the Special Servicer without the express consent of such Holder.

  • Priority of Liens (a) Notwithstanding (i) the date, time, method, manner, or order of grant, attachment, or perfection of, or any defect or deficiency in, or failure to perfect, any Liens granted to the ABL Secured Parties in respect of all or any portion of the Collateral or any Liens granted to the Term Secured Parties in respect of all or any portion of the Collateral and regardless of how any such Lien was acquired (whether by grant, statute, operation of law, subrogation or otherwise), (ii) the order or time of filing or recordation of any document or instrument for perfecting the Liens in favor of the ABL Agent for the benefit of the ABL Secured Parties or any Term Agent for the benefit of the Term Secured Parties in any Collateral, (iii) any provision of the Uniform Commercial Code, Debtor Relief Laws or any other applicable law, or of the ABL Documents or the Term Documents, (iv) whether the ABL Agent or any Term Agent, in each case, either directly or through agents, holds possession of, or has control over, all or any part of the Collateral, (v) the date on which the ABL Obligations or the Term Obligations are advanced or made available to the Loan Parties, or (vi) any failure of the ABL Agent or any Term Agent to perfect its Lien in the Collateral, the subordination of any Lien on the Collateral securing any ABL Obligations or Term Obligations, as applicable, to any Lien securing any other obligation of any Borrower or Term Guarantor, or the avoidance, invalidation or lapse of any Lien on the Collateral securing any ABL Obligations or Term Obligations, the ABL Agent, on behalf of itself and the ABL Secured Parties, and each Term Agent, on behalf of itself and the applicable Term Secured Parties, hereby agree that the following priorities apply to the Liens upon and right to payment from Proceeds of the ABL Priority Collateral and the Term Priority Collateral:

  • Priority of Payments (a) Each Note shall be of equal priority, and no portion of any Note shall have priority or preference over any portion of any other Note or security therefor. All amounts tendered by the Mortgage Loan Borrower or otherwise available for payment on or with respect to or in connection with the Mortgage Loan or the Mortgaged Property or amounts realized as proceeds thereof, whether received in the form of Periodic Payments, the Balloon Payment, Liquidation Proceeds, proceeds under any guaranty, letter of credit or other collateral or instrument securing the Mortgage Loan or Insurance and Condemnation Proceeds (other than proceeds, awards or settlements to be applied to the restoration or repair of the Mortgaged Property or released to the Mortgage Loan Borrower in accordance with the terms of the Mortgage Loan Documents) shall be applied by the Lead Securitization Note Holder (or its designee) to the Notes on a Pro Rata and Pari Passu Basis; provided, that (x) all amounts for required reserves or escrows required by the Mortgage Loan Documents to be held as reserves or escrows or received as reimbursements on account of recoveries in respect of property protection expenses or Servicing Advances then due and payable or reimbursable to the Trustee or any Servicer under the Lead Securitization Servicing Agreement shall be applied to the extent set forth in, and in accordance with the terms of, the Mortgage Loan Documents; and (y) all amounts that are then due, payable or reimbursable to any Servicer, with respect to the Mortgage Loan pursuant to the Lead Securitization Servicing Agreement and any other compensation payable to it thereunder (including without limitation, any additional expenses of the Trust Fund relating to the Mortgage Loan (but subject to the second paragraph of Section 5(d) hereof) reimbursable to, or payable by, such parties and any Special Servicing Fees, Liquidation Fees, Workout Fees and Penalty Charges (to the extent provided in the immediately following paragraph) but excluding (i) any P&I Advances (and interest thereon) on the Lead Securitization Note, which shall be reimbursed in accordance with Section 2(b) hereof, and (ii) any Master Servicing Fees due to the Master Servicer in excess of the Non-Lead Securitization Note’s pro rata share of that portion of such servicing fees calculated at the “primary servicing fee rate” applicable to the Mortgage Loan as set forth in the Lead Securitization Servicing Agreement, which such excess shall not be subject to the allocation provisions of this Section 3) shall be payable in accordance with the Lead Securitization Servicing Agreement. For clarification purposes, Penalty Charges paid on each Note shall first, be used to reduce, on a pro rata basis, the amounts payable on each Note by the amount necessary to pay the Master Servicer, the Trustee or the Special Servicer for any interest accrued on any Servicing Advances and reimbursement of any Servicing Advances in accordance with the terms of the Lead Securitization Servicing Agreement, second, be used to reduce the respective amounts payable on each Note by the amount necessary to pay the Master Servicer, Trustee, the Non-Lead Master Servicer or the Non-Lead Trustee for any interest accrued on any P&I Advance made with respect to such Note by such party (if and as specified in the Lead Securitization Servicing Agreement or the Non-Lead Securitization Servicing Agreement, as applicable), third, be used to reduce, on a pro rata basis, the amounts payable on each Note by the amount necessary to pay additional expenses of the Trust Fund (other than Special Servicing Fees, unpaid Workout Fees and Liquidation Fees) incurred with respect to the Mortgage Loan (as specified in the Lead Securitization Servicing Agreement) and finally, shall be paid to the Master Servicer and the Special Servicer as additional servicing compensation as provided in the Lead Securitization Servicing Agreement. Any proceeds received from the sale of the primary servicing rights with respect to the Mortgage Loan shall be remitted, promptly upon receipt thereof, to the Note Holders on a Pro Rata and Pari Passu Basis. Any proceeds received by any Note Holder from the sale of master servicing rights with respect to its Note shall be for its own account.

  • Creation, Perfection and Priority of Liens The execution and delivery of the Collateral Documents by Loan Parties and Sponsors, together with (i) the actions taken on or prior to the date hereof pursuant to subsections 4.1, 4.2, 6.8 and 6.9 and (ii) the delivery to Administrative Agent of any Pledged Collateral not delivered to Administrative Agent at the time of execution and delivery of the applicable Collateral Document (all of which Pledged Collateral has been so delivered) are effective to create in favor of Administrative Agent for the benefit of Lenders, as security for the respective Secured Obligations (as defined in the applicable Collateral Document in respect of any Collateral), a valid and perfected First Priority Lien on all of the Collateral, and all filings and other actions necessary or desirable to perfect and maintain the perfection and First Priority status of such Liens have been duly made or taken and remain in full force and effect, other than the filing of any UCC financing statements or Mortgages delivered to Administrative Agent for filing or recording, as applicable (but not yet filed or recorded) and the periodic filing of UCC continuation statements in respect of UCC financing statements filed by or on behalf of Administrative Agent.

  • Repayment of Proceeds If Executive engages in Competitive Activity, then Executive shall be required to pay to Investors, within ten business days following the Activity Date, an amount equal to the excess, if any, of (A) the aggregate proceeds Executive received upon the sale or other disposition of Executive's Units, over (B) the aggregate Cost of such Units.

  • Priority of Payment The assets of the Company will be distributed in Liquidation in the following order:

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