Common use of Decision to Enforce Security Documents Clause in Contracts

Decision to Enforce Security Documents. Upon the Security Documents becoming enforceable in accordance with their terms, the Administrative Agent shall promptly so notify each of the Credit Facility Lenders. Any Credit Facility Lender may thereafter provide the Administrative Agent with a written request to enforce the Security Documents. Forthwith after the receipt of such a request, the Administrative Agent shall seek the instruction of the Majority Lenders as to whether the Security Documents should be enforced and the manner in which the Security Documents should be enforced. In seeking such instructions, the Administrative Agent shall submit a specific proposal to the Credit Facility Lenders. The Administrative Agent shall promptly notify the Credit Facility Lenders of all instructions and approvals of the Majority Lenders. If the Majority Lenders instruct the Administrative Agent to enforce the Security Documents, each of the Lenders agree to accelerate the Obligations owed to it in accordance with and to the extent permitted under the Hedge Contracts with it.

Decision to Enforce Security Documents. Upon the Security Documents becoming enforceable in accordance with their terms, the Administrative Agent shall promptly so notify each of the Credit Facility Lenders. Any Credit Facility Lender may thereafter provide the Administrative Agent with a written request to enforce the Security Documents. Forthwith after the receipt of such a request, the Administrative Agent shall seek the instruction of the Majority Lenders as to whether the Security Documents should be enforced and the manner in which the Security Documents should be enforced. In seeking such instructions, the Administrative Agent shall submit a specific proposal to the Credit Facility Lenders. The Administrative Agent shall promptly notify the Credit Facility Lenders of all instructions and approvals of the Majority Lenders. If the Majority Lenders instruct the Administrative Agent to enforce the Security Documents, each of the Lenders agree to accelerate the Obligations owed to it in accordance with and to the extent permitted under the Hedge Contracts with it.

Decision to Enforce Security Documents. Upon the Security Documents becoming enforceable in accordance with their terms, the Administrative Agent shall promptly so notify each of the Credit Facility Lenders. Any Credit Facility Lender may thereafter provide the Administrative Agent with a written request to enforce the Security Documents. Forthwith after the receipt of such a request, the Administrative Agent shall seek the instruction of the Majority Required Lenders as to whether the Security Documents should be enforced and the manner in which the Security Documents should be enforced. In seeking such instructions, the - 115 - CREDIT AGREEMENT Administrative Agent shall submit a specific proposal to the Credit Facility Lenders. The Administrative Agent shall promptly notify the Credit Facility Lenders of all instructions and approvals of the Majority Required Lenders. If the Majority Required Lenders instruct the Administrative Agent to enforce the Security Documents, each of the Lenders agree to accelerate the Obligations owed to it it, including with respect to any Hedge Contracts made between a Lender and a Borrower, in accordance with and to the extent permitted under the such Hedge Contracts with itContracts.