Rights of the Bank. 14.1 Nothing in this Agreement shall affect the Bank's right of set-off, transfer and application of monies at law or pursuant to any other agreement from time to time subsisting between the Bank and any Person.
Rights of the Bank. The Bank shall not be liable for failure to collect or realize upon the Obligations or any collateral security or guarantee therefor, or any part thereof, or for any delay in so doing nor shall it be under any obligation to take any action whatsoever with regard thereto. If an Event of Default has occurred and is continuing, the Bank may thereafter, without notice, exercise all rights, privileges or options pertaining to any Pledged Bonds as if it were the absolute owner thereof, upon such terms and conditions as it may determine, all without liability except to account for property actually received by it, but the Bank shall have no duty to exercise any of the aforesaid rights, privileges or options and shall not be responsible for any failure to do so or delay in so doing.
Rights of the Bank. If an Event of Default shall occur and be continuing and the Bank shall give notice of its intent to exercise such rights to the Company: (i) the Bank shall have the right to receive any and all cash dividends paid in respect of the Pledged Stock and make application thereof to the Secured Obligations in such order as it may determine, and (ii) all shares of the Pledged Stock shall be registered in the name of the Bank or its nominee, and the Bank or its nominee may thereafter exercise (A) all voting, corporate and other rights pertaining to such shares of the Pledged Stock at any meeting of shareholders of the Issuer or otherwise and (B) any and all rights of conversion, exchange, subscription and any other rights, privileges or options pertaining to such shares of the Pledged Stock as if it were the absolute owner thereof (including, without limitation, the right to exchange at its discretion any and all of the Pledged Stock upon the merger, consolidation, reorganization, recapitalization or other fundamental change in the corporate structure of the Issuer, or upon the exercise by the Company or the Bank of any right, privilege or option pertaining to such shares of the Pledged Stock, and in connection therewith, the right to deposit and deliver any and all of the Pledged Stock with any committee, depositary, transfer agent, registrar or other designated agency upon such terms and conditions as it may determine), all without liability except to account for property actually received by it, but the Bank shall have no duty to exercise any such right, privilege or option and shall not be responsible for any failure to do so or delay in so doing.
Rights of the Bank. All consents, approvals and requests required of the Bank shall be deemed not required if the Bank has failed to fulfill its obligations to make payments under the Letter of Credit in accordance with the terms thereof or a Bank Default has occurred and is continuing. The Trustee, in its exercise of its rights for the benefit of the Bondholders under this Article IX and the rights of the Issuer assigned under this Indenture (but not including the rights of the Trustee or the Issuer under this Indenture for its own benefit including, but not limited to, indemnification and any fees and expenses owed to it), in the event that all Outstanding Bonds are Bank Bonds, shall be subject to the direction of the Bank, subject to the rights of the Bond Insurer set forth herein. In the event that less than all Outstanding Bonds are secured by the Bank pursuant to the Letter of Credit, the Bank shall be treated as the owner of all Bank Bonds for purposes of giving directions, consents, waivers or other actions. Except as otherwise provided in the penultimate paragraph of Section 9.03 hereof, in no event shall Bonds secured by a Letter of Credit be accelerated without the prior written consent of the Bank so long as the Letter of Credit is in full force and effect and the Bank has not defaulted thereunder (i) by failing to honor a draft submitted under the Letter of Credit in strict conformity therewith or (ii) in any other material respect, and all interest draws under the Letter of Credit have been reinstated.
Rights of the Bank. The Bank shall not be liable, except in the case of its willful misconduct or gross negligence, for failure to collect or realize upon the Obligations or the Collateral or any part thereof, or for any delay in so doing, nor shall the Bank be under any obligation to take any action whatsoever with regard thereto. If an Event of Default has occurred and is continuing, the Bank, with or without notice, shall have the right to exercise all rights, privileges or options pertaining to any Pledged Bonds, as if it were the absolute owner thereof, upon such terms and conditions as it may, in its sole discretion determine, all without liability except to account to the Pledgor for property actually received by it. The Bank shall have no duty to exercise any of the aforesaid rights, privileges or options and shall not be responsible for any failure to do so or delay in so doing.
Rights of the Bank. All rights of the Bank under this Agreement to consent to certain extensions, remedies, waivers, actions and amendments hereunder shall cease, terminate and become null and void (a) for so long as the Bank wrongfully dishonors any draft presented in strict conformity with the Letter of Credit and until it has honored a subsequent draft so in conformity, if any, thereunder or (b) if the Letter of Credit is no longer in effect and any and all of the Borrower’s obligations to the Bank pursuant to the Reimbursement Agreement have been fully and finally paid and satisfied.
Rights of the Bank i. The Bank is entitled to request the Cardholder to pay any due amounts against him. If the Bank is not issuing any claim at the due date, this shall not be considered as implicit intention to defer the payment of the due amounts or a waiver to perform and affect any protective procedure or seizure over the funds of the Cardholder. The Cardholder acknowledges and agrees that the Bank is entitled to take the appropriate procedures and legal actions to maintain its rights.
Rights of the Bank. 4.1 Notwithstanding any provisions of this Agreement to the contrary, if, in the opinion of counsel to the Bank (in expressing which the Bank will act reasonably and in good faith), any term or condition of this Agreement or operation required to be completed by the Bank under this Agreement is contrary to the requirements of applicable law (including laws and other normative acts, as well as the practice of their application and their interpretation by competent authorities), the Bank will not be obligated to follow such terms and conditions of the Agreement and will not be obligated to perform such operations.
Rights of the Bank. The Bank shall not be liable for failure to collect or realize upon the Obligations or any collateral security or guarantee therefor, or any part thereof, or for any delay in so doing nor shall it be under any obligation to take any action whatsoever with regard thereto. If an Event of Default has occurred and is continuing, the Bank may thereafter exercise all rights, privileges or options pertaining to any Tendered Bonds as if it were the absolute owner thereof (except, before any portion of the Obligations has been declared or has otherwise become due and payable and has not been paid, the right to sell the Tendered Bonds), upon such terms and conditions as it may determine, all without liability except to account for property or funds actually received by it, but the Bank shall have no duty to exercise any of the aforesaid rights, privileges or options and shall not be responsible for any failure to do so or delay in so doing.
Rights of the Bank. So long as (a) the Letter of Credit is in full force and effect and there is no default thereunder and (b) the Bank has not improperly refused or failed to honor a payment request under the Letter of Credit, the Bank shall have the sole right and power to take, make, give or withhold any consent to any amendment, substitution or release of any of the Mortgage, the Assignment of Leases or the property subject to the lien or interests created therein and (except for the right of the Authority to declare an Event of Default and to exercise its other remedies hereunder) to exercise all rights and remedies provided for herein, in the Indenture, or in the other Loan Documents with respect to the Collateral.
