Enforcement of Security. On and at any time after the occurrence of an Event of Default the Security Agent may, and shall if so directed by the Majority Lenders and the Export Credit Agency, take any action which, as a result of the Event of Default or any notice served under Clause 26.21 (Acceleration), the Security Agent is entitled to take under any Finance Document or any applicable law or regulation.
Enforcement of Security. 8.1 Upon or at any time after the occurrence of an Event of Default, the security hereby constituted shall become immediately enforceable and the rights of enforcement of the Collateral Agent under this Mortgage shall be immediately exercisable upon and at any time thereafter and, without prejudice to the generality of the foregoing, the Collateral Agent without further notice to the Chargor and exercising such powers in such manner as the Collateral Agent may think fit in its discretion and shall not be under any obligation to act unless directed by any written instructions of the Noteholders as required by the terms of the Securities Purchase Agreement:
(a) may solely and exclusively exercise all voting and/or consensual powers pertaining to the Charged Property or any part thereof; and
(b) may remove the existing directors and officers (with or without cause) by dating and presenting the undated, signed letters of resignation delivered pursuant to this Mortgage; and
(c) may receive and retain all dividends, interest or other moneys or assets accruing on or in respect of the Charged Property or any part thereof, such dividends, interest or other moneys or assets to be held by the Collateral Agent, until applied in the manner described in Section 8.5 as additional security charged under and subject to the terms of this Mortgage and any such dividends, interest and other moneys or assets received by the Chargor after such time shall be held in trust by the Chargor for the Collateral Agent and paid or transferred to the Collateral Agent on demand; and
(d) may sell, transfer, grant options over or otherwise dispose of the Charged Property or any part thereof at such place and in a commercially reasonable manner and at such price or prices as directed by the Noteholders, and thereupon the Collateral Agent shall have the right to deliver, assign and transfer in accordance therewith the Charged Property so sold, transferred, granted options over or otherwise disposed of.
8.2 The Collateral Agent shall not be obliged to make any enquiry as to the nature or sufficiency of any payment received by it under this Mortgage or to make any claim or to take any action to collect any moneys assigned by this Mortgage or to enforce any rights or benefits assigned to the Collateral Agent by this Mortgage or to which the Collateral Agent may at any time be entitled hereunder.
8.3 Upon any sale or disposal of the Charged Property or any part thereof by the Collateral Agent, th...
Enforcement of Security. 7.1. The security hereby constituted shall become enforceable upon the occurrence of an Enforcement Event which is continuing.
7.2. At any time after the occurrence of an Enforcement Event which is continuing, the rights conferred on the Chargee under this Charge or by law shall be immediately exercisable upon and at any time thereafter and, without prejudice to the generality of the foregoing, the Chargee or any Receiver appointed hereunder without further notice to the Chargor:
7.2.1. may solely and exclusively exercise all voting and/or consensual powers pertaining to the Charged Property or any part thereof and may exercise such powers in a such manner as the Chargee may think fit; and/or
7.2.2. may complete any share transfer forms then held by the Chargee pursuant to this Charge in the name of the Chargee (or its nominee) and the Chargor shall do whatever the Chargee requires in order to procure the prompt registration of such transfer and the prompt issue of a new certificate or certificates for the relevant Charged Property in the name of the Chargee; and/or
7.2.3. date any or all, as the Chargee in its absolute discretion may deem appropriate, of the letters of resignation of the Directors and Secretary of the Company provided to the Chargee pursuant to clause 3.2.5, the proxy provided to the Chargee pursuant to clause 3.2.3 and the appointment provided to the Chargee pursuant to clause 3.2.4 and sign, seal, execute, deliver, acknowledge, file and register all such documents, instruments, agreements, certificates and any other document (including, but not limited to, such letters of resignation) and do any and all such other acts or things as the Chargee may in its absolute discretion deem necessary or desirable to remove any or all of the Directors and/or Secretary from the office of director or, as the case may be, secretary of the Company; and/or
7.2.4. may receive and retain all dividends, interest or other moneys or assets accruing on or in respect of the Charged Property or any part thereof, such dividends, interest or other moneys or assets to be held by the Chargee, as additional security charged under and subject to the terms of this Charge and any such dividends, interest and other moneys or assets received by the Chargor after such time shall be held in trust by the Chargor for the Chargee and paid or transferred to the Chargee on demand; and/or
7.2.5. may sell, transfer, grant options over or otherwise dispose of the Charged Property o...
Enforcement of Security. The right to draw on any security posted or provided in connection with the Project and relating to remedying of the particular default.
Enforcement of Security. 7.1 Upon the occurrence of an Event of Default, the security hereby constituted shall become immediately enforceable and immediately thereafter the Mortgagee, without further notice to the Mortgagors:
7.1.1 may solely and exclusively exercise all voting and/or other rights and/or powers and/or discretions attaching or pertaining to the Mortgaged Property or any part thereof for all purposes not inconsistent with the Transaction Documents and may exercise such voting and/or other rights and/or powers and/or discretions in such manner as the Mortgagee may think fit; and/or
7.1.2 may receive and retain all dividends, interest or other moneys or Assets accruing on or in respect of the Mortgaged Property or any part thereof, such dividends, interest or other moneys or Assets to be held by the Mortgagee, until applied in the manner described in Section 7.5, as additional security mortgaged under and subject to the terms of this Legal Mortgage of IPCo Shares and any such dividends, interest or other moneys or Assets received by either Mortgagor after such time shall be held in trust by such Mortgagor for the Mortgagee and paid or transferred to the Mortgagee on demand; and/or
7.1.3 may (i) if the Fair Market Value of the Mortgaged Property is less than the amount of the Secured Obligations, deem the Mortgaged Property to have been transferred to the Mortgagee absolutely and the Mortgagors shall immediately pay the balance of the Secured Obligations as if they were the principal obligors or (ii) if the Fair Market Value of the Mortgaged Property is greater than the amount of the Secured Obligations, deem an amount of the Mortgaged Property having a Fair Market Value equal to the Secured Obligations to have been transferred to the Mortgagee absolutely with the remainder of the Mortgaged Property being released and transferred to the Mortgagors free of this Legal Mortgage of IPCo Shares; and/or
7.1.4 may sell or otherwise dispose of the Mortgaged Property or any part thereof by such method, at such place and upon such terms as the Mortgagee may determine, and apply the proceeds of such sale or disposition in satisfaction of all or a portion of the Secured Obligations, and if such proceeds are in excess of the amount of the Secured Obligations, the remainder shall be released and transferred to the Mortgagors (for ratable allocation between them in accordance with the Mortgaged Shares pledged by them) free of this IPCo Mortgage; and/or
7.1.5 may revoke any proxies, m...
Enforcement of Security. For the purposes of all powers implied by statute the Obligations shall be deemed to have become due and payable on the date hereof and any statutory restrictions on the power of sale and restrictions on the right of consolidation shall not apply to this security.
Enforcement of Security. In case any Event of Default has occurred and the Holder has declared the principal of and interest on this Debenture and other moneys payable hereunder to be due and payable pursuant to Section 4.2, the Holder may (to the extent permitted by law):
(i) Appoint a Receiver - by instrument in writing appoint any person qualified under applicable legislation, whether an officer or employee of the Holder or not, to be a receiver (which term shall include a receiver and manager) of the Company; and, subject to the provisions of the instrument appointing such receiver, any such receiver so appointed shall have power (to the extent permitted by law):
(A) to carry on (or to concur in the carrying on of) all or any part of the business of the Company,
(B) to make any arrangement or compromise which the receiver shall consider expedient,
(C) to borrow money on the security of the assets of the Company for the purpose of the maintenance, preservation or protection of the business of the Company or for carrying on all or any part of the business of the Company,
(D) to sell, lease or otherwise dispose of the whole or any part of the assets of the Company (or to concur therein) at public auction, by public tender or by private sale, with or without advertisement, for cash or upon credit or partly for cash and partly for credit, at such time and upon such terms and conditions as the receiver shall determine with or without notice and with or without advertising and without any formality all of which are hereby waived by the Company, with power to vary or rescind any contract or sale or other contract, buy at any such auction, resell with or under any of the powers conferred hereunder without being answerable for any loss and adjourn any sale from time to time; and the receiver may execute and deliver to any purchaser of the assets of the Company or any part thereof good and sufficient deeds and documents for the same, the receiver being irrevocably constituted the attorney of the Company for the purpose of making any such sale and executing such deeds and documents, provided that such receiver shall be deemed the agent of the Company and not that of the Holder and the Holder shall not be in any way responsible for any misconduct, negligence or non-feasance of any such receiver, his servants, agents or employees. To facilitate the foregoing powers, any such receiver may, to the exclusion of all others, including the Company, enter upon, use and occupy all premises owned or...
Enforcement of Security. On and at any time after the occurrence of an Event of Default which is continuing the Security Trustee may, and shall if so directed by the Lenders, take any action which, as a result of the Event of Default or any notice served under Clause 23.14 (Acceleration) the Security Trustee is entitled to take under any Finance Document or any applicable law or regulation, subject to the terms of the Intercreditor Agreement.
Enforcement of Security. On and at any time after the occurrence of an Event of Default which is continuing the Lender may take any action which, as a result of the Event of Default or any notice served under Clause 8.6.23 (Acceleration), the Lender is entitled to take under any Finance Document or any applicable law or regulation. 9 Changes to Parties
Enforcement of Security. 8 9. Receiver .....................................................
