Permitted Enforcement: Intra-Group Lenders. After the occurrence of an Insolvency Event in relation to any member of the Group, each Intra-Group Lender may (unless otherwise directed by the Intercreditor Agent or the Common Security Agent or unless the Intercreditor Agent or the Common Security Agent has taken, or has given notice that it intends to take, action on behalf of that Intra-Group Lender in accordance with Clause 12.5 (Filing of claims)), exercise any right it may otherwise have against that member of the Group to:
(a) accelerate any of that member of the Group’s Intra-Group Liabilities or declare them prematurely due and payable or payable on demand;
(b) make a demand under any guarantee, indemnity or other assurance against loss given by that member of the Group in respect of any Intra-Group Liabilities;
(c) exercise any right of set-off or take or receive any Payment in respect of any Intra-Group Liabilities of that member of the Group; or
(d) claim and prove in the liquidation of that member of the Group for the Intra-Group Liabilities owing to it.
Permitted Enforcement: Intra-Group Lenders. After the occurrence of an Insolvency Event in relation to any Group Company, each Intra-Group Lender may (unless otherwise directed by the Security Agent or unless the Security Agent has taken, or has given notice that it intends to take, action on behalf of that Intra-Group Lender in accordance with Clause 9.5 (Filing of claims)), exercise any right it may otherwise have against that Group Company to:
(a) accelerate any of that Group Company's Intra-Group Liabilities or declare them prematurely due and payable or payable on demand;
(b) make a demand under any guarantee, indemnity or other assurance against loss given by that Group Company in respect of any Intra-Group Liabilities;
(c) exercise any right of set-off or take or receive any Payment in respect of any Intra-Group Liabilities of that Group Company; or
(d) claim and prove in the liquidation of that Group Company for the Intra-Group Liabilities owing to it.
Permitted Enforcement: Intra-Group Lenders. After the occurrence of an Insolvency Event, each Intra-Group Lender may (unless otherwise directed by the Security Agent or unless the Security Agent has taken, or has given notice that it intends to take, action on behalf of that Intra-Group Lender in accordance with Clause 13.5 (Filing of claims) or under the Transaction Security Documents creating Security over the relevant Intra-Group Liabilities), exercise any right it may otherwise have against that member of the Group to:
Permitted Enforcement: Intra-Group Lenders. After the occurrence of an Insolvency Event in relation to any member of the Group, each Intra-Group Lender may (unless otherwise directed by the Security Agent or unless the Security Agent has taken, or has given notice that it intends to take, action on behalf of that Intra-Group Lender in accordance with Clause 9.5 (Filing of claims)), exercise any right it may otherwise have against that member of the Group to:
a) accelerate any of that member of the Group's Intra-Group Liabilities or declare them prematurely due and payable or payable on demand;
b) make a demand under any guarantee, indemnity or other assurance against loss given by that member of the Group in respect of any Intra-Group Liabilities;
c) exercise any right of set-off or take or receive any Payment in respect of any Intra-Group Liabilities of that member of the Group; or d) claim and prove in any insolvency process of that member of the Group for the Intra-Group Liabilities owing to it.
Permitted Enforcement: Intra-Group Lenders. Prior to the Senior Discharge Date and after the occurrence of an Insolvency Event, each Intra-Group Lender may only (unless otherwise directed by the Security Agent or unless the Security Agent has taken, or has given notice that it intends to take, action on behalf of that Intra-Group Lender in accordance with Clause 9.4 (Filing of claims)), exercise any right it may otherwise have against that member of the Group to:
(a) accelerate any of that member of the Group’s Intra-Group Liabilities or declare them prematurely due and payable or payable on demand;
(b) make a demand under any guarantee, indemnity or other assurance against loss given by that member of the Group in respect of any Intra-Group Liabilities;
(c) exercise any right of set-off or take or receive any Payment in respect of any Intra-Group Liabilities of that member of the Group; or
(d) claim and prove in the liquidation of that member of the Group for the Intra-Group Liabilities owing to it.
Permitted Enforcement: Intra-Group Lenders. After the occurrence of an Insolvency Event in relation to any member of the Group, each Intra-Group Lender may (unless otherwise directed by the Security Agent (acting on instruction of the Instructing Group) or unless the Security Agent has taken, or has given notice that it intends to take, action on behalf of that Intra-Group Lender in accordance with Clause 8.5 (Filing of claims) or under any Transaction Security Document creating Security over the relevant Intra-Group Liabilities) exercise any right it may otherwise have against that member of the Group to:
(a) accelerate any of that member of the Group’s Intra-Group Liabilities or declare them prematurely due and payable or payable on demand;
(b) make a demand under any guarantee, indemnity or other assurance against loss given by that member of the Group in respect of any Intra-Group Liabilities;
(c) exercise any right of set-off or take or receive any Payment in respect of any Intra-Group Liabilities of that member of the Group; or
(d) claim and prove in the liquidation of that member of the Group for the Intra-Group Liabilities owing to it.
Permitted Enforcement: Intra-Group Lenders. After the occurrence of an Insolvency Event in relation to any member of the Group, each Intra-Group Lender may (unless otherwise directed by the Security Agent or unless the Security Agent has taken, or has given notice that it intends to take, action on behalf of that Intra-Group Lender in accordance with Clause 6.4 (Filing of claims)) exercise any right it may otherwise have in respect of that member of the Group to:
(a) accelerate any of that member of the Group’s Intra-Group Liabilities or declare them prematurely due and payable or payable on demand;
(b) make a demand under any guarantee, indemnity or other assurance against loss given by that member of the Group in respect of any Intra-Group Liabilities;
(c) exercise any right of set-off or take or receive any Payment in respect of any Intra- Group Liabilities of that member of the Group so long as it applies such amounts in accordance with Clause 14 (Application of Proceeds); or
(d) claim and prove in the insolvency process or liquidation of that member of the Group for the Intra-Group Liabilities owing to it.
Permitted Enforcement: Intra-Group Lenders. After the occurrence of an Insolvency Event in relation to any member of the Group, no Intra- Group Lender may exercise any right it may have against that member of the Group to:
(a) accelerate any of that member of the Group’s Intra-Group Liabilities or declare them prematurely due and payable or payable on demand;
(b) make a demand under any guarantee, indemnity or other assurance against loss given by that member of the Group in respect of any Intra-Group Liabilities;
(c) exercise any right of set-off or take or receive any Payment in respect of any Intra-Group Liabilities of that member of the Group; or
(d) claim and prove in any insolvency process of that member of the Group for the Intra- Group Liabilities owing to it, without the prior written consent of the Collateral Agent, which may be given subject to conditions including that Collateral Agent has taken, or has given notice that it intends to take, action on behalf of that Intra-Group Lender in accordance with Clause 4.4 (Filing of claims).
Permitted Enforcement: Intra-Group Lenders. After the occurrence of an Insolvency Event in relation to any member of the NAC Obligor Group, each Intra-Group Lender may (unless otherwise directed by the Security Agent (acting on the instructions of the Majority Pari Passu Creditors) exercise any right it may otherwise have against that member of the NAC Obligor Group to:
(a) accelerate any of that member of the NAC Obligor Group’s Intra-Group Liabilities or declare them prematurely due and payable or payable on demand;
Permitted Enforcement: Intra-Group Lenders. (a) After the occurrence of an Insolvency Event in relation to any Debtor or grantor of Transaction Security, each Intra-Group Lender may (unless otherwise directed by the Security Trustee or unless the Security Trustee has taken, or has given notice that it intends to take, action on behalf of that Intra-Group Lender in accordance with Clause 9.5 (Filing of claims)) and shall if so directed by the Security Trustee, exercise any right it may otherwise have against that Debtor or grantor of Transaction Security to:
(i) accelerate any of that Debtor’s or grantor of Transaction Security’s Intra-Group Liabilities or declare them prematurely due and payable or payable on demand;
(ii) make a demand under any guarantee, indemnity or other assurance against loss given by that member of the Group in respect of any Intra-Group Liabilities;
(iii) exercise any right of set off or take or receive any Payment in respect of any Intra-Group Liabilities of that member of the Group; or
(iv) claim and prove in the liquidation of that member of the Group for the Intra-Group Liabilities owing to it.
(b) Paragraph (a) shall not apply to the extent that that Insolvency Event was the result of the actions of any Intra-Group Lender.
