Enforcement of Security. On and at any time after the occurrence of an Event of Default which is continuing the Security Agent may, and shall if so directed by the Majority Lenders, take any action which, as a result of the Event of Default or any notice served under Clause 27.19 (Acceleration), the Security Agent is entitled to take under any Finance Document or any applicable law or regulation.
Appears in 4 contracts
Samples: Facility Agreement (Global Ship Lease, Inc.), Term Loan Facility (Grindrod Shipping Holdings Ltd.), Facility Agreement (Grindrod Shipping Holdings Pte. Ltd.)
Enforcement of Security. On and at any time after the occurrence of an Event of Default which is continuing the Security Agent may, and shall if so directed by the Majority Lenders, take any action which, as a result of the Event of Default or any notice served under Clause 27.19 25.20 (Acceleration), the Security Agent is entitled to take under any Finance Document or any applicable law or regulation.
Appears in 4 contracts
Samples: Facility Agreement (Navios Maritime Partners L.P.), Term Loan Facility (Navios Maritime Partners L.P.), Facility Agreement (Navios Maritime Partners L.P.)
Enforcement of Security. On and at any time after the occurrence of an Event of Default which is continuing the Security Agent may, and shall if so directed by the Majority LendersLenders and the Export Credit Agency, take any action which, as a result of the Event of Default or any notice served under Clause 27.19 26.21 (Acceleration), the Security Agent is entitled to take under any Finance Document or any applicable law or regulation.
Appears in 4 contracts
Samples: Loan Agreement (Norwegian Cruise Line Holdings Ltd.), Loan Agreement (Norwegian Cruise Line Holdings Ltd.), Loan Agreement (Norwegian Cruise Line Holdings Ltd.)
Enforcement of Security. On and at any time after the occurrence of an Event of Default which is continuing the Security Agent may, and shall if so directed by the Majority Lenders, take any action which, as a result of the Event of Default or any notice served under Clause 27.19 26.18 (Acceleration), the Security Agent is entitled to take under any Finance Document or any applicable law or regulation.
Appears in 3 contracts
Samples: Term Loan Facility (Global Ship Lease, Inc.), Term Loan Facility (Global Ship Lease, Inc.), Term Loan Facility (Ardmore Shipping Corp)
Enforcement of Security. On and at any time after the occurrence of an Event of Default which is continuing the Security Agent may, and shall if so directed by the Majority Lenders, take any action which, as a result of the Event of Default or any notice served under Clause 27.19 26.20 (Acceleration), the Security Agent is entitled to take under any Finance Document or any applicable law or regulation.
Appears in 3 contracts
Samples: Term Loan Facility (Navios Maritime Partners L.P.), Facility Agreement (Navios Maritime Partners L.P.), Term Loan Facility (Navios Maritime Partners L.P.)
Enforcement of Security. On and at any time after the occurrence of an Event of Default which is continuing the Security Agent may, and shall if so directed by the Majority Lenders, take any action which, as a result of the Event of Default or any notice served under Clause 27.19 26.19 (Acceleration), the Security Agent is entitled to take under any Finance Document or any applicable law or regulation.
Appears in 3 contracts
Samples: Facility Agreement (Taylor Maritime Investments LTD), Term Loan Facility (Ardmore Shipping Corp), Term Loan Agreement (Ocean Rig UDW Inc.)
Enforcement of Security. On and at any time after the occurrence of an Event of Default which is continuing the Security Agent may, and shall if so directed by the Majority Lenders, take any action which, as a result of the Event of Default or any notice served under Clause 27.19 28.20 (Acceleration), the Security Agent is entitled to take under any Finance Document or any applicable law or regulation.
Appears in 2 contracts
Samples: Facility Agreement (Okeanis Eco Tankers Corp.), Facility Agreement (Okeanis Eco Tankers Corp.)
Enforcement of Security. On and at any time after the occurrence of an Event of Default which is continuing the Security Agent may, and shall if so directed by the Majority Lenders, take any action which, as a result of the Event of Default or any notice served under Clause 27.19 β26.20 (Acceleration), the Security Agent is entitled to take under any Finance Document or any applicable law or regulationregulation provided that if no direction is given by the Majority Lenders the Facility Agent shall not be obliged to take any action.
SECTION 9 CHANGES TO PARTIES
Appears in 2 contracts
Samples: Facility Agreement (United Maritime Corp), Term Loan Facility (Seanergy Maritime Holdings Corp.)
Enforcement of Security. On and at any time after the occurrence of an Event of Default which is continuing the Security Agent may, and shall if so directed by the Majority Lenders, take any action which, as a result of the Event of Default or any notice served under Clause 27.19 (Acceleration), the Security Agent is entitled to take under any Finance Document or any applicable law or regulationregulation provided that if no direction is given by the Majority Lenders the Facility Agent shall not be obliged to take any action.
Appears in 2 contracts
Samples: Term Loan Facility (United Maritime Corp), Facility Agreement (United Maritime Corp)
Enforcement of Security. On and at any time after the occurrence of an Event of Default which is continuing the Security Agent may, and shall if so directed by the Majority Lenders, take any action which, as a result of the Event of Default or any notice served under Clause 27.19 26.17 (Acceleration), the Security Agent is entitled to take under any Finance Document or any applicable law or regulation.. β
Appears in 1 contract
Enforcement of Security. On Subject to any restrictions imposed by applicable law or regulation, on and at any time after the occurrence of an Event of Default which is continuing the Security Agent may, and shall if so directed by the Majority Lenders, take any action which, as a result of the Event of Default or any notice served under Clause 27.19 26.19 (Acceleration), the Security Agent is entitled to take under any Finance Document or any applicable law or regulation.
Appears in 1 contract
Enforcement of Security. On and at any time after the occurrence of an Event of Default which that is continuing the Security Agent may, and shall if so directed by the Majority Lenders, take any action which, as a result of the Event of Default or any notice served under Clause 27.19 25.21 (Acceleration), the Security Agent is entitled to take under any Finance Document or any applicable law or regulation.
SECTION 9 CHANGES TO PARTIES
Appears in 1 contract
Enforcement of Security. On and at any time after the occurrence of an Event of Default which is continuing the Security Agent may, and shall if so directed by the Majority Lenders, take any action which, as a result of the Event of Default or any notice served under Clause 27.19 27.18 (Acceleration), the Security Agent is entitled to take under any Finance Document or any applicable law or regulation.
Appears in 1 contract
Samples: Facilities Agreement (Euronav NV)
Enforcement of Security. On and at any time after the occurrence of an Event of Default which is continuing the Security Agent may, and shall if so directed by the Majority Lenders, take any action which, as a result of the Event of Default or any notice served under Clause 27.19 27.21 (Acceleration), the Security Agent is entitled to take under any Finance Document or any applicable law or regulation.
Appears in 1 contract
Samples: Addendum to First Preferred Marshall Islands Mortgage (Ocean Rig UDW Inc.)
Enforcement of Security. On and at any time after the occurrence of an Event of Default which is continuing the Security Agent may, and shall if so directed by the Majority Lenders, take any action which, as a result of the Event of Default or any notice served under Clause 27.19 27.20 (Acceleration), the Security Agent is entitled to take under any Finance Document or any applicable law or regulation.
Appears in 1 contract
Enforcement of Security. On and at any time after the occurrence of an Event of Default which is continuing the Security Agent may, and shall if so directed by the Majority Lenders, take any action which, as a result of the Event of Default or any notice served under Clause 27.19 28.20 (Acceleration), the Security Agent is entitled to take under any Finance Document or any applicable law or regulation.
Appears in 1 contract
Enforcement of Security. On and at any time after the occurrence of an Event of Default which is continuing the Security Agent may, and shall if so directed by the Majority Lenders, take any action which, as a result of the Event of Default or any notice served under Clause 27.19 29.19 (Acceleration), the Security Agent is entitled to take under any Finance Document or any applicable law or regulation.
Appears in 1 contract
Enforcement of Security. On and at any time after the occurrence of an Event of Default which is continuing the Security Agent may, and shall if so directed by the Majority Lenders, take any action which, as a result of the Event of Default or any notice served under Clause 27.19 27.18 (Acceleration), the Security Agent is entitled to take under any Finance Document or any applicable law or regulation.
Appears in 1 contract
Samples: Term Loan Facility Agreement (Castor Maritime Inc.)
Enforcement of Security. On and at any time after the occurrence of an Event of Default which is continuing continuing, the Security Agent may, and shall if so directed by the Majority Lenders, take any action which, as a result of the Event of Default or any notice served under Clause 27.19 26.20 (Acceleration), the Security Agent is entitled to take under any Finance Document or any applicable law or regulation.
Appears in 1 contract
Samples: Facility Agreement (Euroseas Ltd.)
