Examples of First Lien Event of Default in a sentence
Notwithstanding anything to the contrary in this Agreement or any other Secured Debt Document, the Collateral Agent shall only issue Entitlement Orders or instructions with respect to Deposit Accounts, Securities Accounts, Security Entitlements, Commodity Accounts and Commodity Contracts upon the occurrence and during the continuance of a First Lien Event of Default.
If a First Lien Event of Default shall occur and be continuing, the First Lien Administrative Agent, on behalf of the First Lien Secured Parties, may exercise, in addition to all other rights and remedies granted to them in this Agreement and in any other instrument or agreement securing, evidencing or relating to the First Lien Obligations, all rights and remedies of a secured party under the New York UCC or any other applicable law.
Never underestimate the risk and hazards involved in working with chemicals.
Neither any Agent nor any other Secured Party shall by any act (except by a written instrument pursuant to Section 11.1), delay, indulgence, omission or otherwise be deemed to have waived any right or remedy hereunder or to have acquiesced in any First Lien Default, Second Lien Default, First Lien Event of Default or Second Lien Event of Default, as applicable.
No consent or waiver by Mortgagee to or of any breach or First Lien Event of Default by Mortgagor in the performance of the First Lien Obligations shall be deemed or construed to be a consent or waiver to or of any other breach or First Lien Event of Default in the performance of the same or of any other First Lien Obligations by Mortgagor hereunder.