LIMITATIONS ON CREDITOR'S RIGHTS Sample Clauses

LIMITATIONS ON CREDITOR'S RIGHTS. Without the prior written consent of Bank, each Obligor agrees that it will not: (a) institute any court proceedings against any Obligor to collect any Subordinated Debt, or (b) exercise any right or remedy against any Obligor or its assets.
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LIMITATIONS ON CREDITOR'S RIGHTS. Without the prior written consent of Bank, Creditor agrees that it will not, until all Senior Debt is paid in full and Bank has no agreement or commitment to provide any credit facility or accommodation to Borrower, except for the Permitted Actions, as hereafter defined: (a) demand or accelerate any of the Subordinated Debt, (b) institute any court proceedings against Borrower or any guarantor of any of the Subordinated Debt to collect any Subordinated Debt, (c) enter judgment by confession or exercise any other right or remedy against Borrower, Borrower's assets, any guarantor of any of the Subordinated Debt or any of such guarantor's assets, or any right or remedy against any of the Scheduled Subordinated Debt Collateral, (d) amend or modify, alter, increase or extend the terms of any of the Subordinated Debt, or (e) amend or modify any of the Subordinated Debt Loan Documents. For purposes of the foregoing, the following shall constitute Permitted Actions: (a) accelerate payment of all sums then due under the Subordinated Note and/or enter judgment against Borrower for the sums then due under the Subordinated Note if and only if (i) Creditor is in compliance with all other terms and conditions of this Agreement, (ii) an Event of Default has occurred under the Subordinated Note or any of the other Subordinated Debt Loan Documents; and (iii) Creditor has delivered to Bank written notice of the occurrence of any Event of Default under the Subordinated Note or any of the other Subordinated Debt Loan Documents and Bank has failed to cure such Event of Default (or event or circumstance giving rise thereto) within twenty (20) calendar days of receipt by Bank of such notice; and/or (b) enforcement of Creditor's rights against Nath▇ ▇▇▇ ▇▇▇dora under the guaranty included in the Subordinated Note if and only if (i) Creditor is in compliance with all other terms and conditions of this Agreement, (ii) an Event of Default has occurred under the Subordinated Note or any of the other Subordinate Debt Loan Documents; and (iii) Creditor has delivered to Bank written notice of the occurrence of any such Event of Default under the Subordinated Note or any of the other Subordinated Debt Loan Documents and Bank has failed to cure such Event of Default (or event or circumstances giving rise thereto) within ninety (90) days of receipt by Bank of such notice. Creditor acknowledges and agrees that (i) Bank has no obligation or commitment of any kind to cure any Event of Default...
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Related to LIMITATIONS ON CREDITOR'S RIGHTS

  • Secured Party’s Rights and Remedies If at any time (1) an Event of Default or Specified Condition with respect to the Pledgor has occurred and is continuing or (2) an Early Termination Date has occurred or been designated as the result of an Event of Default or Specified Condition with respect to the Pledgor, then, unless the Pledgor has paid in full all of its Obligations that are then due, the Secured Party may exercise one or more of the following rights and remedies: (i) all rights and remedies available to a secured party under applicable law with respect to Posted Collateral held by the Secured Party; (ii) any other rights and remedies available to the Secured Party under the terms of Other Posted Support, if any; (iii) the right to Set-off any amounts payable by the Pledgor with respect to any Obligations against any Posted Collateral or the Cash equivalent of any Posted Collateral held by the Secured Party (or any obligation of the Secured Party to Transfer that Posted Collateral); and (iv) the right to liquidate any Posted Collateral held by the Secured Party through one or more public or private sales or other dispositions with such notice, if any, as may be required under applicable law, free from any claim or right of any nature whatsoever of the Pledgor, including any equity or right of redemption by the Pledgor (with the Secured Party having the right to purchase any or all of the Posted Collateral to be sold) and to apply the proceeds (or the Cash equivalent thereof) from the liquidation of the Posted Collateral to any amounts payable by the Pledgor with respect to any Obligations in that order as the Secured Party may elect. Each party acknowledges and agrees that Posted Collateral in the form of securities may decline speedily in value and is of a type customarily sold on a recognized market, and, accordingly, the Pledgor is not entitled to prior notice of any sale of that Posted Collateral by the Secured Party, except any notice that is required under applicable law and cannot be waived.

  • WAIVERS, RIGHTS AND REMEDIES Except as expressly provided in this Agreement, no failure or delay by any party in exercising any right or remedy relating to this Agreement or any of the Transaction Documents shall affect or operate as a waiver or variation of that right or remedy or preclude its exercise at any subsequent time. No single or partial exercise of any such right or remedy shall preclude any further exercise of it or the exercise of any other remedy.

  • BANK’S RIGHTS 3.1 The Bank shall have a right to: (a) Recover the Rent and any other cost incurred by the Bank in relation to the Locker to the debit of the Customer’s account, in the event the same is not paid by the Customer, when due; and (b) Refuse access to the Locker- (i) In case the rent due on the Locker remains unpaid; and (ii) Customer fails to provide proof of identity when demanded by the Bank, at the time of seeking access to the Locker.

  • Banks Rights and Remedies 8.1 Upon the occurrence of an Event of Default by Borrower under this Agreement, Bank may, at its election, without notice of its election and without demand, do any one or more of the following, all of which are authorized by Borrower: a. Declare Borrower's Obligations, whether evidenced by this Agreement, installment notes, demand notes or otherwise, immediately due and payable to the Bank;

  • Limitations on Claims In addition to the limitations on indemnification set forth in Section 9(a) above, the Employer shall not be obligated pursuant to this Agreement: (i) To indemnify or advance expenses to Executive with respect to a Proceeding initiated by Executive, except (i) for Proceedings authorized or consented to by the Board; or (ii) in the event a claim for indemnification or payment of expenses (including attorneys’ fees) made under this Agreement is not paid in full within sixty (60) days after a written claim therefor has been received by the Employer, Executive may file suit to recover the unpaid amount of such claim and, if successful in whole or in part, shall be entitled to be paid the expense of prosecuting such claim, including attorneys’ fees. In any such action, the Employer shall have the burden of proving that Executive was not entitled to the requested indemnification or payment of expenses under applicable law or this Agreement. (ii) To indemnify Executive for any expenses incurred by Executive with respect to any Proceeding instituted by Executive to enforce or interpret this Agreement, unless Executive is successful in establishing Executive’s right to indemnification in such Proceeding, in whole or in part; provided, however, that nothing in this Section 9(d)(ii) is intended to limit the Employer’s obligation with respect to the advancement of expenses to Executive in connection with any Proceeding instituted by Executive to enforce or interpret this Agreement, as provided in Section 9(c) above. (iii) To indemnify Executive in connection with proceedings or claims involving the enforcement of the provisions of this Agreement (other than as otherwise specifically provided for in this Section 9) or any other employment, severance or compensation plan or agreement that Executive may be a party to, or beneficiary of, with the Employer or any other Company. (iv) To indemnify Executive on account of any proceeding with respect to which final judgment is rendered against Executive for payment or an accounting of profits arising from the purchase or sale by Executive of securities in violation of Section 16(b) of the Securities Exchange Act of 1934, as amended, any similar successor statute, or similar provisions of state statutory law or common law.