Common use of Entitled to Rely Clause in Contracts

Entitled to Rely. Upon any payment or distribution pursuant to this Section 11, the Lenders shall be entitled to rely (a) upon any order or decree of a court of competent jurisdiction in which any proceedings of the nature referred to in Section 11.2 hereof are pending, (b) upon a certificate of the liquidating trustee or agent or other Person making such payment or distribution to the Lenders or (c) upon any Designated Administrative Agent for the purpose of ascertaining the Persons entitled to participate in such payment or distribution, the holders of the Designated Senior Debt and other Indebtedness of the Credit Parties, the amount thereof or payable thereon, the amount or amounts paid or distributed thereon and all other facts pertinent thereto or to this Section 11. In the event that any Lender determines, in good faith, that evidence is required with respect to the right of any Person as a holder of Designated Senior Debt to participate in any payment or distribution pursuant to this Section 11, such Lender shall be entitled to request such Person to furnish evidence to the reasonable satisfaction of such Lender as to the amount of such Designated Senior Debt held by such Person, the extent to which such Person is entitled to participate in such payment or distribution and other facts pertinent to the rights of such Person under this Section 11, and, if such evidence is not furnished, such Lender shall be entitled to defer any payment to such Person pending judicial determination as to the right of such Person to receive such payment.

Appears in 2 contracts

Samples: Counterpart Agreement (Isola Group Ltd.), Counterpart Agreement (Isola Group Ltd.)

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Entitled to Rely. Upon any payment or distribution pursuant to this Section 11Article 15, the Lenders Trustee and the Holders shall be entitled to rely (ai) upon any order or decree of a court of competent jurisdiction in which any proceedings of the nature referred to in Section 11.2 hereof 1502 are pending, (bii) upon a certificate of the liquidating trustee or agent or other Person making such payment or distribution to the Lenders Trustee or to the Holders or (ciii) upon the Representatives for the holders of Guarantor Senior Indebtedness or any Designated Administrative Agent Subsidiary Guarantor for the purpose of ascertaining the Persons entitled to participate in such payment or distribution, the holders of the Designated Guarantor Senior Debt Indebtedness and other Indebtedness of the Credit Partiessuch Subsidiary Guarantor, the amount thereof or payable thereon, the amount or amounts paid or distributed thereon and all other facts pertinent thereto or to this Section 11Article 15. In the event that any Lender the Trustee determines, in good faith, that evidence is required with respect to the right of any Person as a holder of Designated such Guarantor Senior Debt Indebtedness to participate in any payment or distribution pursuant to this Section 11Article 15, such Lender shall be entitled to the Trustee may request such Person to furnish evidence to the reasonable satisfaction of such Lender the Trustee as to the amount of such Designated Guarantor Senior Debt Indebtedness held by such Person, the extent to which such Person is entitled to participate in such payment or distribution and other facts pertinent to the rights of such Person under this Section 11Article 15, and, if such evidence is not furnished, such Lender shall be entitled to the Trustee may defer any payment to such Person pending judicial determination as to the right of such Person to receive such payment. The provisions of Sections 701 and 703 shall be applicable to all actions or omissions of actions by the Trustee pursuant to this Article 15.

Appears in 1 contract

Samples: Atlantic Health Group Inc

Entitled to Rely. Upon any payment or distribution pursuant to this Section 11Article Twelve, the Lenders Trustee and the Holders of Securities shall be entitled to rely (ai) upon any order or decree of a court of competent jurisdiction in which any proceedings of the nature referred to in Section 11.2 hereof 1202 are pending, (bii) upon a certificate of the liquidating trustee or agent or other Person making such payment or distribution to the Lenders Trustee or to the Holders of Securities or (ciii) upon any Designated Administrative Agent the Representatives for the holders of Senior Indebtedness for the purpose of ascertaining the Persons entitled to participate in such payment or distribution, the holders of the Designated Senior Debt Indebtedness, and other Indebtedness indebtedness of the Credit PartiesCompany, the amount thereof or payable thereon, the amount or amounts paid or distributed thereon and all other facts pertinent thereto or to this Section 11Article Twelve. In the event that any Lender the Trustee determines, in good faith, that evidence is required with respect to the right of any Person as a holder of Designated Senior Debt Indebtedness to participate in any payment or distribution pursuant to this Section 11Article Twelve, such Lender shall be entitled to the Trustee may request such Person to furnish evidence to the reasonable satisfaction of such Lender the Trustee as to the amount of such Designated Senior Debt Indebtedness held by such Person, the extent to which such Person is entitled to participate in such payment or distribution and other facts pertinent to the rights of such Person under this Section 11Article Twelve, and, if such evidence is not furnished, such Lender shall be entitled to the Trustee may defer any payment to such Person pending judicial determination as to the right of such Person to receive such payment.

Appears in 1 contract

Samples: Hillenbrand Industries Inc

Entitled to Rely. Upon any payment or distribution pursuant to this Section 11Article 15, the Lenders Trustee and the Holders shall be entitled to rely (ai) upon any order or decree of a court of competent jurisdiction in which any proceedings of the nature referred to in Section 11.2 hereof 1502 are pending, (bii) upon a certificate of the liquidating trustee or agent or other Person making such payment or distribution to the Lenders Trustee or to the Holders or (ciii) upon the Representatives for the holders of Senior Indebtedness of any Designated Administrative Agent Note Guarantor for the purpose of 116 ascertaining the Persons entitled to participate in such payment or distribution, the holders of the Designated Senior Debt Indebtedness and other Indebtedness of the Credit Partiessuch Note Guarantor, the amount thereof or payable thereon, the amount or amounts paid or distributed thereon and all other facts pertinent thereto or to this Section 11Article 15. In the event that any Lender the Trustee determines, in good faith, that evidence is required with respect to the right of any Person as a holder of Designated such Senior Debt Indebtedness to participate in any payment or distribution pursuant to this Section 11Article 15, such Lender shall be entitled to the Trustee may request such Person to furnish evidence to the reasonable satisfaction of such Lender the Trustee as to the amount of such Designated Senior Debt Indebtedness held by such Person, the extent to which such Person is entitled to participate in such payment or distribution and other facts pertinent to the rights of such Person under this Section 11Article 15, and, if such evidence is not furnished, such Lender shall be entitled to the Trustee may defer any payment to such Person pending judicial determination as to the right of such Person to receive such payment. The provisions of Sections 701 and 703 shall be applicable to all actions or omissions of actions by the Trustee pursuant to this Article 15.

Appears in 1 contract

Samples: Dirsamex Sa De Cv

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Entitled to Rely. Upon any payment or distribution pursuant to this Section 11Article Fourteen, the Lenders Trustee and the Noteholders shall be entitled to rely (a1) upon any order or decree of a court of competent jurisdiction in which any proceedings of the nature referred to in Section 11.2 hereof 1402 are pending, (b2) upon a certificate of the liquidating trustee or agent or other Person making such payment or distribution to the Lenders Trustee or to the Noteholders or (c3) upon any Designated Administrative Agent the Representatives of Senior Indebtedness of the Company for the purpose of ascertaining the Persons entitled to participate in such payment or distribution, the holders of the Designated such Senior Debt Indebtedness and other Indebtedness of the Credit PartiesCompany, the amount thereof or payable thereon, the amount or amounts paid or distributed thereon and all other facts pertinent thereto or to this Section 11Article Fourteen. In the event that any Lender the Trustee determines, in good faith, that evidence is required with respect to the right of any Person as a holder of Designated Senior Debt Indebtedness of the Company to participate in any payment or distribution pursuant to this Section 11Article Fourteen, such Lender the Trustee shall be entitled to request such Person to furnish evidence to the reasonable satisfaction of such Lender the Trustee as to the amount of such Designated Senior Debt Indebtedness held by such Person, the extent to which such Person is entitled to participate in such payment or distribution and other facts pertinent to the rights of such Person under this Section 11Article Fourteen, and, if such evidence is not furnished, such Lender the Trustee shall be entitled to defer any payment to such Person pending judicial determination as to the right of such Person to receive such payment. The provisions of Sections 601 and 603 shall be applicable to all actions or omissions of actions by the Trustee pursuant to this Article Fourteen.

Appears in 1 contract

Samples: Supplemental Indenture (Newfield Exploration Co /De/)

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