ENFORCEMENT OF THE PLEDGE. 7.1 If the obligations that the Pledgor owes with respect to any of the Secured Receivables become due or immediately payable, the Pledgees may enforce the Floating Pledges in accordance with any of the following methods. In such case, each Pledgee may enforce the Floating Pledges only through the Agent by times, methods and terms determined in accordance with the decision-making of the Majority Lenders under Clause 2 of the Creditors’ Agreement, and the Agent shall enforce the Floating Pledges on behalf of each Pledgee. The Agent shall, in enforcing the Floating Pledges, notify the Trustee, Pledgor and each Pledgee in writing of the enforcement of the Floating Pledges under this Agreement (the “Floating Pledge Enforcement Notice”).
Appears in 5 contracts
Samples: Accounts Receivables Trust Agreement (Advanced Micro Devices Inc), Accounts Receivables Trust Agreement (Spansion Inc.), Revolving Line Agreement (Advanced Micro Devices Inc)
