Common use of Before Event of Default Clause in Contracts

Before Event of Default. Notwithstanding anything contained in this Debenture or the Indenture, at any time before the Collateral Agent has given notice to the Chargors and to the relevant third parties of the occurrence of an Event of Default which is continuing, unremedied and unwaived, each Chargor shall have the exclusive right to exercise all rights, powers and remedies in relation to its Monetary Claims.

Before Event of Default. Notwithstanding anything contained in this Debenture or the Indenture, at any time before the Collateral Agent has given notice to the Chargors and to the relevant third parties financial institutions of the occurrence of an Event of Default which is continuing, unremedied and unwaived, each Chargor shall have the exclusive right to exercise all rights, powers and remedies in relation to its Monetary ClaimsBank Accounts.