Common use of REMEDIES, ETC., CUMULATIVE Clause in Contracts

REMEDIES, ETC., CUMULATIVE. (a) Each right, power and remedy of the Pledgee provided for in this Agreement or in any of the other Loan Documents, or now or hereafter existing at law or in equity or by statute, shall be cumulative and concurrent and shall be in addition to each and every other such right, power or remedy. The exercise or beginning of the exercise by the Pledgee or any other Secured Party of any one or more of the rights, powers or remedies provided for in this Agreement or any of the other Loan Documents or now or hereafter existing at law or in equity or by statute or otherwise shall not preclude the simultaneous or later exercise by the Pledgee or any other Secured Party of any or all such other rights, powers or remedies, and no failure or delay on the part of the Pledgee or any other Secured Party to exercise any such right, power or remedy shall operate as a waiver thereof. Unless otherwise required by the Loan Documents, no notice to or demand on any Pledgor in any case shall entitle such Pledgor to any other or further notice or demand in similar other circumstances or constitute a waiver of any of the rights of the Pledgee or of any other Secured Party to take any other or further action in any circumstances without demand or notice. (b) Each of the Secured Parties agrees that this Agreement may be enforced only by the action of the Pledgee, in each case, acting upon the instructions of the Required Lenders, and that no other Secured Parties shall have any right individually to seek to enforce or to enforce this Agreement or to realize upon any of the Collateral granted or to be granted hereby, it being understood and agreed that such rights and remedies may be exercised by the Administrative Agent for the benefit of the Secured Parties upon the terms of this Agreement and the other Collateral Documents. It is understood that the agreement of the Secured Parties contained in this paragraph (b) is among, and solely for the benefit of, the Secured Parties and that, if the Required Lenders so agree (without requiring the consent of any Pledgor), this Agreement may be directly enforced by any Secured Party.

Appears in 1 contract

Sources: Pledge Agreement (Nextera Enterprises Inc)

REMEDIES, ETC., CUMULATIVE. (a) Each right, power and remedy of the Pledgee provided for in this Agreement or in any of the other Loan DocumentsSecured Debt Agreement, or now or hereafter existing at law or in equity or by statute, statute shall be cumulative and concurrent and shall be in addition to each and every other such right, power or remedy. The exercise or beginning of the exercise by the Pledgee or any other Secured Party Creditor of any one or more of the rights, powers or remedies provided for in this Agreement or any of the other Loan Documents Secured Debt Agreement or now or hereafter existing at law or in equity or by statute or otherwise shall not preclude the simultaneous or later exercise by the Pledgee or any other Secured Party Creditor of any or all such other rights, powers or remedies, and no failure or delay on the part of the Pledgee or any other Secured Party Creditor to exercise any such right, power or remedy shall operate as a waiver thereof. Unless otherwise required by the Loan Credit Documents, no notice to or demand on any Pledgor in any case shall entitle such Pledgor it to any other or further notice or demand in similar other circumstances or constitute a waiver of any of the rights of the Pledgee or of any other Secured Party Creditor to take any other or further action in any circumstances without demand or notice. (b) Each . By accepting the benefits of this Agreement, the Secured Parties agrees Creditors expressly acknowledge and agree that (x) this Agreement may be enforced only by the action of the Pledgee, in each case, Pledgee acting upon the instructions of the Required LendersLenders or, if the CA Termination Date has occurred, the holders of a majority of the outstanding principal amount of all remaining Obligations, provided that if prior to the CA Termination Date a payment default with respect to at least $300,000,000 principal amount in the aggregate of Existing Senior Notes, New Senior Notes and/or Refinancing Senior Notes has continued for at least 180 days (and such defaulted payment has not been received pursuant to a drawing under any letter of credit), the holders of a majority of the outstanding principal amount of the Indebtedness subject to such payment default or defaults can direct the Pledgee to commence and continue enforcement of the Liens created hereunder, which the Pledgee shall comply with subject to receiving any indemnity which it reasonably requests, provided further that the Pledgee shall thereafter comply only with the directions of the Required Lenders as to how to carry out such enforcement so long as such directions are not adverse to the aforesaid directions of the holders of Indebtedness subject to such payment default or defaults and (y) no other Secured Parties Creditor shall have any right individually to seek to enforce or to enforce this Agreement or to realize upon any of the Collateral granted or security to be granted hereby, it being understood and agreed that such rights and remedies may shall be exercised exclusively by the Administrative Agent Pledgee for the benefit of the Secured Parties Creditors as their interests may appear upon the terms of this Agreement and the other Collateral Documents. It is understood that the agreement of the Secured Parties contained in this paragraph (b) is among, and solely for the benefit of, the Secured Parties and that, if the Required Lenders so agree (without requiring the consent of any Pledgor), this Agreement may be directly enforced by any Secured PartyAgreement.

Appears in 1 contract

Sources: Pledge Agreement (Reynolds American Inc)

REMEDIES, ETC., CUMULATIVE. (a) Each right, power and remedy of the Pledgee provided for in this Agreement or in any of the other Loan DocumentsSecured Debt Agreement, or now or hereafter existing at law or in equity or by statute, statute shall be cumulative and concurrent and shall be in addition to each and every other such right, power or remedy. The exercise or beginning of the exercise by the Pledgee or any other Secured Party Creditor of any one or more of the rights, powers or remedies provided for in this Agreement or any of the other Loan Documents Secured Debt Agreement or now or hereafter existing at law or in equity or by statute or otherwise shall not preclude the simultaneous or later exercise by the Pledgee or any other Secured Party Creditor of any or all such other rights, powers or remedies, and no failure or delay on the part of the Pledgee or any other Secured Party Creditor to exercise any such right, power or remedy shall operate as a waiver thereof. Unless otherwise required by the Loan Credit Documents, no notice to or demand on any Pledgor in any case shall entitle such Pledgor it to any other or further notice or demand in similar other circumstances or constitute a waiver of any of the rights of the Pledgee or of any other Secured Party Creditor to take any other or further action in any circumstances without demand or notice. (b) Each . By accepting the benefits of this Agreement, the Secured Parties agrees Creditors expressly acknowledge and agree that (x) this Agreement may be enforced only by the action of the Pledgee, in each case, Pledgee acting upon the instructions of the Required LendersLenders or, if the CA Termination Date has occurred, the holders of a majority of the outstanding principal amount of all remaining Obligations, provided that if prior to the CA Termination Date a payment default with respect to at least $300,000,000 principal amount in the aggregate of New Senior Notes and/or Refinancing Senior Notes has continued for at least 180 days (and such defaulted payment has not been received pursuant to a drawing under any letter of credit), the holders of a majority of the outstanding principal amount of the Indebtedness subject to such payment default or defaults can direct the Pledgee to commence and continue enforcement of the Liens created hereunder, which the Pledgee shall comply with subject to receiving any indemnity which it reasonably requests, provided further that the Pledgee shall thereafter comply only with the directions of the Required Lenders as to how to carry out such enforcement so long as such directions are not adverse to the aforesaid directions of the holders of Indebtedness subject to such payment default or defaults and (y) no other Secured Parties Creditor shall have any right individually to seek to enforce or to enforce this Agreement or to realize upon any of the Collateral granted or security to be granted hereby, it being understood and agreed that such rights and remedies may shall be exercised exclusively by the Administrative Agent Pledgee for the benefit of the Secured Parties Creditors as their interests may appear upon the terms of this Agreement and the other Collateral Documents. It is understood that the agreement of the Secured Parties contained in this paragraph (b) is among, and solely for the benefit of, the Secured Parties and that, if the Required Lenders so agree (without requiring the consent of any Pledgor), this Agreement may be directly enforced by any Secured PartyAgreement.

Appears in 1 contract

Sources: Pledge Agreement (Reynolds American Inc)

REMEDIES, ETC., CUMULATIVE. (a) Each and every right, power and remedy of hereby specifically given to the Pledgee provided for shall be in addition to every other right, power and remedy specifically given to the Pledgee under this Agreement or in any of the Agreement, and other Loan Documents, Secured Debt Agreements or now or hereafter existing at law or law, in equity or by statutestatute and each and every right, power and remedy whether specifically herein given or otherwise existing may be exercised from time to time or simultaneously and as often and in such order as may be deemed expedient by the Pledgee. All such rights, powers and remedies shall be cumulative and concurrent and shall be in addition to each and every other such right, power or remedy. The the exercise or the beginning of the exercise by the Pledgee or any other Secured Party Creditor of any one or more of the rights, powers or remedies provided for in this Agreement or any of the other Loan Documents Secured Debt Agreement or now or hereafter existing at law or in equity or by statute or otherwise shall not preclude the simultaneous or later exercise by the Pledgee or any other Secured Party Creditor of any or all such other rights, powers or remedies, and no failure or delay on the part of the Pledgee or any other Secured Party Creditor to exercise any such right, power or remedy shall operate as a waiver thereof. Unless otherwise required by No delay or omission of the Loan DocumentsPledgee in the exercise of any such right, power or remedy and no renewal or extension of any of the Obligations shall impair any such right, power or remedy or shall be construed to be a waiver of any Default or Event of Default or an acquiescence therein. No notice to or demand on any Pledgor in any case shall entitle such Pledgor it to any other or further notice or demand in similar or other circumstances or constitute a waiver of any of the rights of the Pledgee or of any other Secured Party Creditors to take any other or further action in any circumstances without demand notice or notice. (b) Each of the demand. The Secured Parties agrees Creditors agree that this Agreement may be enforced only by the action of the Pledgee, in each case, case acting upon the instructions of the Required LendersSecured Creditors as provided in the US Security Agreement, and that no Secured Creditor other Secured Parties than the Pledgee shall have any right individually to seek to enforce or to enforce this Agreement or to realize upon any of the Collateral granted or security to be granted hereby, it being understood and agreed that such rights and remedies may be exercised only by the Administrative Agent Pledgee for the benefit of the Secured Parties Creditors upon the terms of this Agreement and the other Collateral Documents. It is understood that the agreement of the Secured Parties contained in this paragraph (b) is among, and solely for the benefit of, the Secured Parties and that, if the Required Lenders so agree (without requiring the consent of any Pledgor), this Agreement may be directly enforced by any Secured PartyUS Security Agreement.

Appears in 1 contract

Sources: Credit Agreement (Welbilt, Inc.)

REMEDIES, ETC., CUMULATIVE. (a) Each right, power and remedy of the Pledgee provided for in this Agreement or in any of other Secured Debt Agreement (including, without limitation, the other Loan DocumentsIntercreditor Agreement), or now or hereafter existing at law or in equity or by statute, statute shall be cumulative and concurrent and shall be in addition to each and every other such right, power or remedy. The exercise or beginning of the exercise by the Pledgee or any other Secured Party Creditor of any one or more of the rights, powers or remedies provided for in this Agreement or any of other Secured Debt Agreement (including, without limitation, the other Loan Documents Intercreditor Agreement) or now or hereafter existing at law or in equity or by statute or otherwise shall not preclude the simultaneous or later exercise by the Pledgee or any other Secured Party Creditor of any or all such other rights, powers or remedies, and no failure or delay on the part of the Pledgee or any other Secured Party Creditor to exercise any such right, power or remedy shall operate as a waiver thereof. Unless otherwise required by the Loan Credit Documents, no notice to or demand on any Pledgor in any case shall entitle such Pledgor to any other or further notice or demand in similar other circumstances or constitute a waiver of any of the rights of the Pledgee or of any other Secured Party Creditor to take any other or further action in any circumstances without demand or notice. (b) Each . Subject to the terms of the Intercreditor Agreement, the Secured Parties agrees Creditors agree that this Agreement may be enforced only by the action of the Pledgee, in each case, acting upon the instructions of the Required Lenders, Lenders and that no other Secured Parties Creditor shall have any right individually to seek to enforce or to enforce this Agreement or to realize upon any of the Collateral granted or security to be granted hereby, it being understood and agreed that such rights and remedies may be exercised by the Administrative Agent Pledgee, for the benefit of the Secured Parties Creditors upon the terms of this Agreement, the Intercreditor Agreement and the other Collateral Credit Documents. It is understood that the agreement of the Secured Parties contained in this paragraph (b) is among, and solely for the benefit of, the Secured Parties and that, if the Required Lenders so agree (without requiring the consent of any Pledgor), this Agreement may be directly enforced by any Secured Party.

Appears in 1 contract

Sources: Pledge Agreement (EnerSys)