FORECLOSURE AND COLLECTION. 8.1 Without prejudice to the foregoing provisions, upon notice from the Agent as provided in the Loan Agreement, after the occurrence and during the continuance of (i) any breach or violation by any Pledgor under this Agreement, (ii) any breach or violation under the Modular Brazil Pledge Agreement, or (iii) any Event of Default (as such term is defined under the Guaranties or the Loan Agreement), the Agent, acting for the benefit of the Lenders, or the Lenders, are hereby irrevocably authorized and qualified (whether or not any foreclosure measure is taken against any Borrower and irrespective of any right that the Pledgors may have to any benefit of order or similar right (which is hereby waived by Pledgors to the fullest extent permitted by law) to dispose of, collect, receive, appropriate and/or seize the Modular Brazil’s Pledged Assets and Rights or PR Borrower’s Pledged Assets and Rights (or part thereof), and may promptly amicably sell (pursuant to Clause 8.3.1), assign, grant a call option or options on, or otherwise dispose of and deliver the Modular Brazil’s Pledged Assets and Rights or PR Borrower’s Pledged Assets and Rights, in full or in part, at the price, in the manner, and under the terms and conditions that they deem appropriate, pursuant to the applicable law, regardless of any prior or subsequent notice to the Pledgors, with due regard to the provisions in articles 1,433, item IV, and 1,435, item V, of the Brazilian Civil Code.
FORECLOSURE AND COLLECTION. (a) Without prejudice of previous provisions, upon the occurrence and during the continuance of an Enforcement Event, the Administrative Agent is hereby irrevocably and irretrievably, authorized and qualified to sell, collect, receive, appropriate and/or foreclose, in whole or in part, on this security interest, and it may immediately sell or assign, grant call option or options or otherwise dispose of and deliver the Pledged Stock (in whole or in part), for the market price, terms and conditions it may deem appropriate, subject to applicable law, irrespective of any prior or subsequent notice to the Companies or the Grantor, in accordance with the provisions of Article 1,433, item IV, of the Brazilian Civil Code, and use the proceeds therefrom to pay the Secured Obligations, which at that time have become due and payable, as provided for in the Loan Documents. Upon the occurrence and during the continuance of an Enforcement Event, the Administrative Agent may exercise, in addition to all other rights and remedies granted in this Agreement and in any other instrument or agreement securing, evidencing or relating to the Secured Obligations, any and all rights and remedies at law, including, without limitation, all rights and remedies of a secured party under the Brazilian Civil Code.
FORECLOSURE AND COLLECTION. (a) Without prejudice of previous provisions, upon the occurrence and during the continuance subject to the applicable cure periods set forth in the Credit Agreement, if any) of an Event of Default under Section 9.1(a) of the Credit Agreement, or to the extent that an automatic acceleration event occurs under the Section 9.1(e), (f) or (g) of the Credit Agreement or upon the occurrence of any other Event of Default to the extent that the Administrative Agent (upon request of the Majority Lenders) declares the acceleration of all amounts due thereunder, which shall be evidenced by means of a written notice sent to the Collateral Agent (together with copy of the notice sent by the Administrative Agent, as required pursuant to Section 9.1 of the Credit Agreement), the Collateral Agent is hereby irrevocably and irretrievably, authorized and qualified to, in name and to the exclusive benefit of the Lenders, withdraw, transfer and/or receive all monies deposited at the Collateral Account (in whole or in part), at its sole discretion, in accordance with applicable law and the provisions of article
FORECLOSURE AND COLLECTION. (a) Without prejudice of previous provisions, upon the occurrence and during the continuance (subject to the applicable cure periods set forth in the Credit Agreement, if any) of an Event of Default under Section 9.1(a) of the Credit Agreement, or to the extent that an automatic acceleration event occurs under the Section 9.1(e), (f) or (g) of the Credit Agreement or upon the occurrence of any other Event of Default to the extent that the Administrative Agent (upon request of the Majority Lenders) declares the acceleration of all amounts due thereunder, which shall be evidenced by means of a written notice sent to the Collateral Agent (together with copy of the notice sent by the Administrative Agent, as required pursuant to Section 9.1 of the Credit Agreement), the Collateral Agent is hereby irrevocably and irretrievably, authorized and qualified to, in name and to the exclusive benefit of the Lenders, sell, collect and/or receive, and it may immediately dispose of the Pledged Credit Rights (in whole or in part), for the prices, terms and conditions it may understand appropriate in accordance with applicable law and the provisions of article 1,433, item IV, of the Brazilian Civil Code, and use and apply the proceeds therefrom to pay the Secured Obligations, as provided for in the Credit Agreement.
FORECLOSURE AND COLLECTION. 13 If the early maturity of the Secured Obligations is declared, under the terms provided for in the instrument of the Judicial Reorganization Plan or at the final maturity without the Secured Obligations having been settled, after the verification of the Suspensive Condition, as the case may be, the Collateral Agent, as representative of the Secured Parties, shall execute, in whole or in part, this Fiduciary Sale until the full payment of the Secured Obligations following the best market practices.
FORECLOSURE AND COLLECTION. SECTION 8.01. Subject to the terms of the Intercreditor Agreement, without prejudice to the foregoing provisions, upon sending a notice to the Pledgors of the occurrence of an Enforcement Event, the Pledgees (as the case may be and to the extent permitted by the Secured Documents) are hereby irrevocably authorized to (i) verify under reasonable procedures the quantity, value, condition and status of, or any other matter relating to, the Pledged Assets and Rights and (ii) dispose of, collect, receive, appropriate (to the extent that may be permitted under the laws of Brazil) and/or seize the Pledged Assets and Rights (or part thereof), and may promptly amicably sell (pursuant to Section 8.02), assign, or otherwise dispose of and deliver the Pledged Assets and Rights, in full or in part, at the price, in the manner, and under the terms and conditions that they deem appropriate, pursuant to the applicable law, regardless of any prior or subsequent notice to the Pledgors, with due regard to the provisions of the Secured Documents (including, but not limited to, the provisions of Articles 1,433, item IV, and 1,435, item V, of the Brazilian Civil Code).
FORECLOSURE AND COLLECTION. SECTION 6.01. Subject to the terms of the Intercreditor Agreement, without prejudice to the foregoing provisions, upon sending a notice to the Pledgor of the occurrence of an Enforcement Event, the Pledgees (as the case may be and to the extent permitted by the Secured Documents) are hereby irrevocably authorized (i) to verify under reasonable procedures the quantity, value, condition and status of, or any other matter relating to, the Pledged Bank Accounts, (ii) to send a notice to all Banks, with a copy to the Pledgor, related to the Pledged Bank Accounts being enforced, substantially in the form of Exhibit 5 hereto (the “Enforcement Notice”), (a) informing its decision to enforce this Pledge Agreement and identifying the Bank Accounts being enforced under this instrument and (b) instructing the relevant Bank to conduct any transfer order related to the Bank Accounts only pursuant to the instructions received from the Pledgees; and (iii) to enforce and collect all amounts deposited in the Pledged Bank Accounts pursuant to the applicable Brazilian laws, as well as exercise all rights and powers related to such Pledged Bank Accounts as conferred by such laws.
