Specified Subsidiaries. For the avoidance of doubt, the assets of the Specified Subsidiaries are not and shall not be required to be pledged as Collateral under this Agreement or any other Loan Document and none of the Specified Subsidiaries are or shall be deemed to be a Borrower, a Loan Guarantor or a Grantor (as defined in the Security Agreement). The Agent and the Lenders hereby agree that at all times, including, without limitation, (a) if an Event of Default has occurred and is continuing or (b) if the Lenders become judgment creditors and seek to attach or levy upon any assets of the Parent Borrower or any of its Subsidiaries to enforce any such judgment, DICL will continue to be operated in compliance with the regulatory guidelines required by the Bermuda Monetary Authority and the Arkansas Insurance Department.
Appears in 3 contracts
Sources: Credit Agreement (Dillard's, Inc.), Credit Agreement (Dillard's, Inc.), Credit Agreement (Dillard's, Inc.)