Permitted Enforcement: Subordinated Creditors. After the occurrence of an Insolvency Event in relation to any member of the Group, each Subordinated Creditor 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 Subordinated Creditor in accordance with Clause 12.5 (Filing of claims)) exercise any right it may otherwise have in respect of that member of the Group to:
Permitted Enforcement: Subordinated Creditors. After the occurrence of an Insolvency Event in relation to ParentCo, the Borrower, any other Debtor or any Group Member and without prejudice to Clause 9 (Turnover of Receipts), each Subordinated Creditor may, if so directed by the Security Agent or if the prior consent of the Security Agent shall have been obtained, exercise any right it may otherwise have in respect of ParentCo, the Borrower, that Group Member or that Debtor to:
