Occurrence of Default. Agent shall not exercise any of the rights and powers conferred upon it herein until and unless there shall occur a default hereunder or an Event of Default as defined in the Credit Agreement. Notwithstanding the foregoing, Agent shall be under no obligation to exercise its rights hereunder.
Appears in 3 contracts
Sources: Collateral Assignment of Lessee's Interest in Leases (Quality Dining Inc), Collateral Assignment of Lessee's Interest in Leases (Quality Dining Inc), Collateral Assignment of Lessee's Interest in Leases (Quality Dining Inc)