Common use of Enforcement Restriction Clause in Contracts

Enforcement Restriction. Notwithstanding the terms of the Junior Loan Documents, the Junior Creditor shall not, directly or indirectly, take or initiate any Enforcement Action; provided that the Junior Creditor may file of a proof of claim or similar instrument with respect to the Junior Creditor Debt in any Insolvency Proceeding or commence or initiate any action required to comply with statutory limitation periods (provided that such proceeding is then stayed).

Enforcement Restriction. Notwithstanding the terms of the Junior Loan Documents, until such time as the Senior Debt has been indefeasibly paid and satisfied in full, the Junior Creditor shall not, directly or indirectly, take or initiate any Enforcement Action; provided that the Junior Creditor may file of a proof of claim or similar instrument with respect to the Junior Creditor Debt in any Insolvency Proceeding or commence or initiate any action required to comply with statutory limitation periods (provided that such proceeding is then stayed).