Common use of EFFECT OF AN ENFORCEMENT NOTICE Clause in Contracts

EFFECT OF AN ENFORCEMENT NOTICE. 7.1.1 If, at any time while any of the Secured Obligations in respect of a Series remain outstanding, an Insolvency Event occurs then the Trustee shall, by written notice to the Issuer (an "ENFORCEMENT NOTICE") declare all of the Notes in respect of all Series to be immediately repayable and the security created pursuant to Clause 4 and each MTN Supplement and Supplementary Security Document to become enforceable, the floating charge created pursuant to Clause 4 will crystallise as of the date of such notice and the Trustee shall appoint an administrative receiver.

EFFECT OF AN ENFORCEMENT NOTICE. 7.1.1 If, at any time while any of the Secured Obligations in respect of a Series remain outstanding, an Insolvency Event occurs then the Trustee shall, by written notice to the Issuer (an "ENFORCEMENT NOTICEEnforcement Notice") declare all of the Notes in respect of all Series to be immediately repayable and the security created pursuant to Clause 4 and each MTN Supplement and Supplementary Security Document to become enforceable, the floating charge created pursuant to Clause 4 will crystallise as of the date of such notice and the Trustee shall appoint an administrative receiver.