Permitted Share Pledge Acceleration. (i) the Borrower Security Trustee is instructed to undertake a Distressed Disposal;
Permitted Share Pledge Acceleration. Notwithstanding Clause 19 (Standstill) and for so long as a Standstill Period is continuing, the Borrower Security Trustee shall, upon being so instructed by the Majority Borrower Secured Creditors, serve a Demand Notice on DutchCo (with a copy to the Borrower Security Group Agent) pursuant to clause 2.1 of the Parent Payment Undertaking demanding payment of the amount as required by the Majority Borrower Secured Creditors. In the event of any failure by DutchCo to discharge its obligations with respect to a Demand Notice, the Borrower Secured Creditors may, without the prior consent of the Majority Borrower Secured Creditors, accelerate their respective claims to the extent necessary to apply proceeds of enforcement of the Parent Share Pledge (a “Permitted Share Pledge Acceleration”) or the proceeds of any Distressed Disposal but only to the extent that such accelerated claims would be discharged out of such proceeds pursuant to the Post-Enforcement Priority of Payments.
