Common use of Enforcement Rights Clause in Contracts

Enforcement Rights. The Guarantors, prior to the payment in full of the Obligations and the termination of all financing arrangements among the Borrower and the Lenders, shall have no right to enforce any claim with respect to the Subordinated Debt, including, without limitation, any Permitted Payment, or otherwise to take any action against the borrower or the Borrower’s Property without the Administrative Agent’s prior written approval.

Appears in 6 contracts

Samples: Credit Agreement (Toll Brothers, Inc.), Credit Agreement (Toll Brothers, Inc.), Credit Agreement (Toll Brothers Inc)

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Enforcement Rights. The Guarantors, prior to the payment in full of the Obligations and the termination of all financing arrangements among the Borrower and the Lenders, shall have no right to enforce any claim with respect to the Subordinated Debt, including, without limitation, any Permitted Payment, or otherwise to take any action against the borrower Borrower or the Borrower’s Property without the Administrative Agent’s prior written approval.

Appears in 2 contracts

Samples: Credit Agreement (Toll Brothers Inc), Credit Agreement (Toll Brothers Inc)

Enforcement Rights. The Guarantors, prior to the indefeasible payment in full of the Obligations and the termination of all financing arrangements among the Borrower and the Lenders, shall have no right to enforce any claim with respect to the Subordinated Debt, including, without limitation, any Permitted Payment, or otherwise to take any action against the borrower Borrower or the Borrower’s 's Property without the Administrative Agent’s 's prior written approval. 10.

Appears in 1 contract

Samples: Credit Agreement (Toll Brothers Inc)

Enforcement Rights. The Guarantors, prior to the indefeasible payment in full of the Obligations and the termination of all financing arrangements among the Borrower and the Lenders, shall have no right to enforce any claim with respect to the Subordinated Debt, including, without limitation, any Permitted Payment, or otherwise to take any action against the borrower Borrower or the Borrower’s 's Property without the Administrative Agent’s 's prior written approval.

Appears in 1 contract

Samples: Credit Agreement (Toll Brothers Inc)

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Enforcement Rights. The Guarantors, prior to the indefeasible payment in full of the Obligations and the termination of all financing arrangements among the Borrower and the Lenders, shall have no right to enforce any claim with respect to the Subordinated Debt, including, without limitation, any Permitted Payment, or otherwise to take any action against the borrower Borrower or the Borrower’s Property without the Administrative Agent’s prior written approval.

Appears in 1 contract

Samples: Credit Agreement (Toll Brothers Inc)

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