Common use of Filing of Claims Upon an Insolvency Event Clause in Contracts

Filing of Claims Upon an Insolvency Event. After the occurrence of an Insolvency Event, each Holder, by virtue of its acceptance of a Security irrevocably authorizes the Security Agent to take any of the following actions, in accordance with the terms of this Indenture: (a) accelerate repayment of any Securities or otherwise declare any Securities prematurely due and payable or payable on demand; (b) enforce, xxx or prove for any claim for repayment of any Securities by execution or otherwise or institute any creditor’s process whether before or after judgment, or any equivalent or like process in any jurisdiction; (c) in respect of any Securities, take, or permit to be taken, any action or step, or petition, apply or vote for, initiate or support any step (including the appointment of any liquidator, receiver, administrator or similar officer), to commence or continue any proceedings against the Issuer or in relation to the bankruptcy, insolvency, winding-up, liquidation, receivership, administration, reorganisation, dissolution or similar proceedings of the Issuer or any suspension of payments or moratorium of any indebtedness of the Issuer, or any analogous procedure or step in any jurisdiction; (d) commence or join any legal or arbitration action or proceedings against the Issuer to recover in respect of any Securities; (e) make any demand against the Issuer in relation to any guarantee, indemnity or other assurance against loss in respect of the Securities or exercise any right to require the Issuer to acquire the Securities (including exercising any put or call option against the Issuer for the redemption or purchase of the Securities); (f) exercise any right of set-off against the Issuer in respect of the Securities; (g) enter into any composition, assignment or arrangement with the Issuer in order to effect or protect its rights under this Indenture or any COFACE Finance Document; (h) collect and receive all distributions on, or on account of, any or all of the Securities; or (i) otherwise exercise or pursue any remedy and do all other things the Security Agent considers reasonably necessary for the recovery of any Securities or in respect of any rights arising in connection with such Securities.

Filing of Claims Upon an Insolvency Event. After Without limiting the rights, if any, of the Trustee, on behalf of each Holder, and of each Holder against the Company under the Indenture and applicable law, after the occurrence of an Insolvency EventEvent and prior to the payment in full of all obligations under the COFACE Facility Agreement, the Trustee, on behalf of each Holder, each Holder, by virtue of its acceptance of a Security the Company and each Subsidiary Guarantor irrevocably authorizes authorizes, empowers and appoints the Security COFACE Agent to take any of the following actions, in accordance with the terms of the Indenture and this Indenture:Guaranty (provided that the COFACE Agent shall have no obligation to take any such actions): (a) accelerate repayment of any Securities or otherwise declare any Securities prematurely due and payable or payable on demand; (b) enforce, xxx sxx or prove for any claim for repayment of any Securities payment on or in relation to this Guaranty or payment by execution or otherwise or institute any creditor’s 's process whether before or after judgment, or any equivalent or like process in any jurisdiction; (cb) in respect of any Securitiesthis Guaranty, take, or permit to be taken, any action or step, or petition, apply or vote for, initiate or support any step (including the appointment of any liquidator, receiver, administrator or similar officer), to commence or continue any proceedings against the Issuer any Subsidiary Guarantor or in relation to the bankruptcy, insolvency, winding-up, liquidation, receivership, administration, reorganisationreorganization, dissolution or similar proceedings of the Issuer a Subsidiary Guarantor or any suspension of payments or moratorium of any indebtedness of the Issuera Subsidiary Guarantor, or any analogous procedure or step in any jurisdiction; (dc) commence or join any legal or arbitration action or proceedings against the Issuer any Subsidiary Guarantor to recover in respect of any Securitiesthis Guaranty; (ed) make any demand against the Issuer any Subsidiary Guarantor in relation to any guaranteeguaranty, indemnity or other assurance against loss in respect of the Securities or exercise any right to require the Issuer to acquire the Securities (including exercising any put or call option against the Issuer for the redemption or purchase of the Securities); (fe) exercise any right of set-off against the Issuer any Subsidiary Guarantor in respect of the Securitiesthis Guaranty; (gf) enter into any composition, assignment or arrangement with the Issuer any Subsidiary Guarantor in order to effect or protect its rights under this Indenture or any COFACE Finance DocumentGuaranty; (hg) collect and receive all distributions on, or on account of, this Guaranty (it being understood that any or all of such distributions shall be applied to obligations under the SecuritiesCOFACE Facility Agreement and not the Guaranteed Obligations); or (ih) otherwise exercise or pursue any remedy and do all other things the Security COFACE Agent considers reasonably necessary for the recovery of any Securities or in respect of any rights arising in connection with such this Guaranty. For the avoidance of doubt, nothing in this Section 4.15 shall in any way impact or diminish any claim assertable against the Company on account of the Indenture or the Securities.

Filing of Claims Upon an Insolvency Event. After the occurrence of an Insolvency Event, each HolderHolder and each Subsidiary Guarantor irrevocably authorizes, by virtue of its acceptance of a Security irrevocably authorizes empowers and appoints the COFACE Security Agent to take any of the following actions, in accordance with the terms of the Indenture and this Indenture:Guaranty (provided that the COFACE Security Agent shall have no obligation to take any such actions): (a) accelerate repayment of any Securities or otherwise declare any Securities prematurely due and payable or payable on demand; (b) enforce, xxx or prove for any claim for repayment of any Securities Securities, payment on or in relation to this Guaranty or payment by execution or otherwise or institute any creditor’s process whether before or after judgment, or any equivalent or like process in any jurisdiction; (c) in respect of any SecuritiesSecurities or this Guaranty, take, or permit to be taken, any action or step, or petition, apply or vote for, initiate or support any step (including the appointment of any liquidator, receiver, administrator or similar officer), to commence or continue any proceedings against the Issuer Company or any Subsidiary Guarantor or in relation to the bankruptcy, insolvency, winding-up, liquidation, receivership, administration, reorganisationreorganization, dissolution or similar proceedings of the Issuer Company or any suspension of payments or moratorium of any indebtedness of the IssuerCompany, or any analogous procedure or step in any jurisdiction; (d) commence or join any legal or arbitration action or proceedings against the Issuer Company or any Subsidiary Guarantor to recover in respect of any SecuritiesSecurities or this Guaranty; (e) make any demand against the Issuer Company or any Subsidiary Guarantor in relation to any guaranteeguaranty, indemnity or other assurance against loss in respect of the Securities or exercise any right to require the Issuer Company to acquire the Securities (including exercising any put or call option against the Issuer Company for the redemption or purchase of the Securities); (f) exercise any right of set-off against the Issuer Company or any Subsidiary Guarantor in respect of the SecuritiesSecurities or this Guaranty; (g) enter into any composition, assignment or arrangement with the Issuer Company or any Subsidiary Guarantor in order to effect or protect its rights under the Indenture, this Indenture Guaranty or any COFACE Finance Document; (h) collect and receive all distributions on, or on account of, any or all of the SecuritiesSecurities or this Guaranty; or (i) otherwise exercise or pursue any remedy and do all other things the COFACE Security Agent considers reasonably necessary for the recovery of any Securities or in respect of any rights arising in connection with such SecuritiesSecurities or this Guaranty.

Filing of Claims Upon an Insolvency Event. After the occurrence of an Insolvency Event, each HolderHolder irrevocably authorizes, by virtue of its acceptance of a Security irrevocably authorizes empowers and appoints the COFACE Security Agent to take any of the following actions, in accordance with the terms of this Indenture:Indenture (provided that the COFACE Security Agent shall have no obligation to take any such actions): (a) accelerate repayment of any Securities or otherwise declare any Securities prematurely due and payable or payable on demand; (b) enforce, xxx or prove for any claim for repayment of any Securities by execution or otherwise or institute any creditor’s process whether before or after judgment, or any equivalent or like process in any jurisdiction; (c) in respect of any Securities, take, or permit to be taken, any action or step, or petition, apply or vote for, initiate or support any step (including the appointment of any liquidator, receiver, administrator or similar officer), to commence or continue any proceedings against the Issuer or in relation to the bankruptcy, insolvency, winding-up, liquidation, receivership, administration, reorganisation, dissolution or similar proceedings of the Issuer or any suspension of payments or moratorium of any indebtedness of the Issuer, or any analogous procedure or step in any jurisdiction; (d) commence or join any legal or arbitration action or proceedings against the Issuer to recover in respect of any Securities; (e) make any demand against the Issuer in relation to any guarantee, indemnity or other assurance against loss in respect of the Securities or exercise any right to require the Issuer to acquire the Securities (including exercising any put or call option against the Issuer for the redemption or purchase of the Securities); (f) exercise any right of set-off against the Issuer in respect of the Securities; (g) enter into any composition, assignment or arrangement with the Issuer in order to effect or protect its rights under this Indenture or any COFACE Finance Document; (h) collect and receive all distributions on, or on account of, any or all of the Securities; or (i) otherwise exercise or pursue any remedy and do all other things the COFACE Security Agent considers reasonably necessary for the recovery of any Securities or in respect of any rights arising in connection with such Securities.