Common use of Notice of Enforcement Clause in Contracts

Notice of Enforcement. At any time that a Notice of Enforcement is in effect, the Corporate Trustee may at its option (but shall not be obligated to do so in the absence of a direction from the Required Secured Parties), without notice to or demand upon the Borrower (both of which are hereby waived for the purpose of this subsection), in addition to all other rights and remedies provided under the Trust Agreement, this Agreement and the other Security Documents, in its own name or the name of the Borrower, perform, demand, exercise any of the rights of the Borrower under, agree to waive, amend or modify any provision of, xxx upon or otherwise enforce the Contracts to the same extent as if the Corporate Trustee were the party named in the Contract, and exercise all other rights of the Borrower under the Contracts in such manner as it may determine.

Notice of Enforcement. At any time that a Notice of Enforcement is in effect, the Corporate Trustee may at its option (but shall not be obligated to do so in the absence of a direction from the Required Secured Parties), without notice to or demand upon the Borrower Grantor (both of which are hereby waived for the purpose of this subsection), in addition to all other rights and remedies provided under the Trust Agreement, this Agreement and the other Security Documents, in its own name or the name of the BorrowerGrantor, perform, demand, exercise any of the rights of the Borrower Grantor under, agree to waive, amend or modify any provision of, xxx upon or otherwise enforce the Contracts to the same extent as if the Corporate Trustee were the party named in the Contract, and exercise all other rights of the Borrower Grantor under the Contracts in such manner as it may determine.