Decision to Enforce Security Sample Clauses
The 'Decision to Enforce Security' clause defines the circumstances and process by which a secured party may choose to exercise its rights over collateral or security interests in the event of a default or breach. Typically, this clause outlines who has the authority to make the enforcement decision, the steps required before enforcement (such as providing notice), and the types of actions that may be taken, such as seizing or selling secured assets. Its core practical function is to provide a clear framework for enforcing security interests, thereby protecting the secured party’s ability to recover value and ensuring all parties understand the enforcement process.
Decision to Enforce Security. The Security shall become enforceable as provided in Article 13. Upon the Security becoming enforceable as aforesaid, the Administrative Agent shall promptly so notify each of the Lenders. Any Lender may thereafter provide the Administrative Agent with a written request to enforce the Security. Forthwith after the receipt of such a request, the Administrative Agent shall seek the instructions of the Majority Lenders as to whether the Security should be enforced and the manner in which the Security should be enforced. In seeking such instructions, the Administrative Agent shall submit a specific proposal to the Lenders. The Administrative Agent shall promptly notify the Lenders of all instructions and approvals of the Majority Lenders.
Decision to Enforce Security. Upon the Security becoming enforceable in accordance with its terms, the Agent shall promptly so notify each of the Lenders. Any Lender may thereafter provide the Agent with a written request to enforce the Security. Forthwith after the receipt of such a request, the Agent shall seek the instructions of the Lenders as to whether the Security should be enforced and the manner in which the Security should be enforced. In seeking such instructions, the Agent shall submit a specific proposal to the Lenders. From time to time, any Lender may submit a proposal to the Agent as to the manner in which the Security should be enforced and the Agent shall submit any such proposal to the Lenders for approval of the Lenders. If the Lenders instruct the Agent to enforce the Security, each of the Lenders agree to accelerate the Facility Indebtedness owed to it to the extent permitted under the relevant Facility Document and in accordance with the relevant Facility Document.
Decision to Enforce Security. Upon the Security becoming enforceable in accordance with its terms, the Administrative Agent shall promptly so notify each of the Finance Parties. The Administrative Agent or any Qualified Risk Management Lender may thereafter provide the Administrative Agent with a written request to enforce the Security. Forthwith after the receipt of such a request, the Administrative Agent shall seek the instructions of the Majority Lenders as to whether the Security should be enforced and the manner in which the Security should be enforced. In seeking such instructions, the Administrative Agent shall submit a specific proposal to the Finance Parties. From time to time, the Administrative Agent or any Qualified Risk Management Lender may submit a proposal to the Administrative Agent as to the manner in which the Security should be enforced and the Administrative Agent shall submit any such proposal to the Finance Parties for approval of the Majority Lenders. The Administrative Agent shall promptly notify the Finance Parties of all instructions and approvals of the Majority Lenders. If the Majority Lenders instruct the Administrative Agent to enforce the Security, each of the Finance Parties agree to accelerate the Secured Obligations owed to it to the extent permitted under the relevant Credit Document and in accordance with the relevant Credit Document.
Decision to Enforce Security. (a) Upon the Security becoming enforceable in accordance with its terms, the Administrative Agent shall promptly so notify each of the Finance Parties.
(b) The Administrative Agent or any Qualified Risk Management Lender may thereafter provide the Administrative Agent with a written request to enforce the Security.
(c) Forthwith after the receipt of such a request, the Administrative Agent shall seek the instructions of the Majority Lenders as to whether the Security should be enforced and the manner in which such Security should be enforced. In seeking such instructions, the Administrative Agent shall submit a specific proposal to the Finance Parties.
(d) From time to time, the Administrative Agent or any Qualified Risk Management Lender may submit a proposal to the Administrative Agent as to the manner in which the Security should be enforced and the Administrative Agent shall submit any such proposal to the Finance Parties for approval of the Majority Lenders.
(e) The Administrative Agent shall promptly notify the Finance Parties of all instructions and approvals of the Majority Lenders. If the Majority Lenders instruct the Administrative Agent to enforce the Security, each of the Finance Parties agree to accelerate the Secured Obligations owed to it to the extent permitted under the relevant Credit Document and in accordance with the relevant Credit Document.
Decision to Enforce Security. Upon the Security becoming enforceable in accordance with its terms, the Administrative Agent shall promptly so notify each of the Finance Parties. Any Lender may thereafter provide the Administrative Agent with a written request to enforce the Security. Forthwith after the receipt of such a request, the Administrative Agent shall seek the instructions of the Majority Lenders as to whether the Security should be enforced and the manner in which the Security should be enforced. In seeking such instructions, the Administrative Agent shall submit a specific proposal to the Finance Parties. From time to time, any Lender may submit a proposal to the Administrative Agent as to the manner in which the Security should be enforced and the Administrative Agent shall submit any such proposal to the Finance Parties for approval of the Majority Lenders. The Administrative Agent shall promptly notify the Finance Parties of all instructions and approvals of the Majority Lenders. If the Majority Lenders instruct the Administrative Agent to enforce the Security, each of the Finance Parties agree to accelerate the Secured Obligations owed to it to the extent permitted under the relevant Finance Document and in accordance with the relevant Finance Document.
Decision to Enforce Security. 86 14.21 ENFORCEMENT.......................................................87 14.22 APPLICATION OF CASH PROCEEDS OF REALIZATION.......................87 14.23
Decision to Enforce Security. Upon the Security becoming enforceable in accordance with its terms, the Agent shall promptly so notify each of the Transaction Parties. Any Transaction Party may thereafter provide the Agent with a written request to enforce the Security. Forthwith after the receipt of such a request, the Agent shall seek the instructions of the Majority Creditors as to whether the Security should be enforced and the manner in which the Security should be enforced. In seeking such instructions, the Agent shall submit a specific proposal to the Transaction Parties. From time to time, any Transaction Party may submit a proposal to the Agent as to the manner in which the Security should be enforced and the Agent shall submit any such proposal to the Transaction Parties for approval of the Majority Creditors. The Agent shall promptly notify the Transaction Parties of all instructions and approvals of the Majority Creditors. If the Majority Creditors instruct the Agent to enforce the Security, each of the Transaction Parties agrees to accelerate the Transaction Indebtedness owed to it to the extent permitted under the relevant Facility Document and in accordance with the relevant Facility Document.
Decision to Enforce Security. Upon the Security becoming enforceable in accordance with its terms, the Administrative Agent shall promptly so notify each of the Finance Parties. Any Finance Party may thereafter provide the Administrative Agent with a written request to enforce the Security. Forthwith after the receipt of such a request, the Administrative Agent shall seek the instructions of the Majority Lenders as to whether the Security should be enforced and the manner in which the Security should be enforced. In seeking such instructions, the Administrative Agent shall submit a specific proposal to the Finance Parties. The Administrative Agent shall promptly notify the Lenders of all instructions and approvals of the Majority Lenders.
Decision to Enforce Security. 105 14.21 ENFORCEMENT..............................................................................105 14.22 APPLICATION OF CASH PROCEEDS OF REALIZATION..............................................105 14.23 SECURITY DOCUMENTS.......................................................................106 14.24 [INTENTIONALLY DELETED]..................................................................106 14.25 SURVIVAL.................................................................................106 14.26 DISCHARGE OF SECURITY....................................................................107
Decision to Enforce Security. 105 14.21 ENFORCEMENT..............................................................................105 14.22 APPLICATION OF CASH PROCEEDS OF REALIZATION..............................................105 14.23 SECURITY DOCUMENTS.......................................................................106 14.24 [INTENTIONALLY DELETED]..................................................................106 14.25 SURVIVAL.................................................................................106 14.26 DISCHARGE OF SECURITY....................................................................107