Common use of Decision to Enforce Security Clause in Contracts

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. (a) Upon the Security becoming enforceable in accordance with its termsterms and Article 13, the Administrative Agent shall promptly so notify each of the Finance Parties. (b) The Administrative Agent or any Qualified Risk Management . Any 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 Lenders (prior to the Credit Facilities Termination Date) or Finance Parties. Parties (d) From time to timefollowing the Credit Facilities Termination Date). After receipt of notice that the Security has become enforceable in accordance with this Section 14.21, the Administrative Agent any Lender or any Qualified Risk Management Lender Finance Party, as applicable, 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 Lenders or Finance Parties Parties, as applicable, for approval of the Majority Lenders. (e) . The Administrative Agent shall promptly notify the Lenders or Finance Parties Parties, as applicable, 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 Finance Document and in accordance with the relevant Credit Finance Document.

Decision to Enforce Security. (a) Upon the Security or the Parent 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 and/or the Parent 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 and/or the Parent Security should be enforced and the manner in which such Security and the Parent 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 and Parent 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 and/or the Parent Security, as the case may be, each of the Finance Parties agree to accelerate the Secured Obligations owed to it to the extent permitted under the relevant Credit Document or relevant Parent Document and in accordance with the relevant Credit Document or Parent Document, as applicable.