Collateral Agent May File Proofs of Claim. In case of the pendency of any proceeding under any Debtor Relief Law or any other judicial proceeding relative to any Loan Party, the Collateral Agent (irrespective of whether the principal of any Loan or Reimbursement Obligation shall then be due and payable as herein expressed or by declaration or otherwise and irrespective of whether any Agent shall have made any demand on the Borrowers) shall be entitled and empowered (but not obligated) by intervention in such proceeding or otherwise:
Appears in 2 contracts
Sources: Financing Agreement (Alj Regional Holdings Inc), Financing Agreement (Alj Regional Holdings Inc)
Collateral Agent May File Proofs of Claim. In case of the pendency of any proceeding under any Debtor Relief Law bankruptcy or any other judicial insolvency proceeding relative to any Loan PartyBorrower, the Collateral Agent (irrespective of whether the principal of any Loan or Reimbursement Obligation shall then be due and payable as herein expressed or by declaration or otherwise and irrespective of whether the Collateral Agent or any Agent other Senior Secured Party shall have made any demand on the Borrowersany Borrower) shall be entitled and empowered (empowered, but shall not obligated) be obligated to, by intervention in such proceeding or otherwise:
Appears in 1 contract