Powers of Enforcement. If an Event of Default occurs the Lender may in the name of the relevant Obligor or otherwise:
(a) take possession of and sell the Secured Property (and for this purpose the Lender or its agents may enter any premises where the Secured Property is held and repossess the Secured Property);
(b) at any time, do anything that the Obligor could do in relation to the Secured Property and the Obligor's business and its operations generally;
(c) exercise all the rights of a natural person in relation to the Secured Property and the Obligor’s business and its operations generally; and
(d) exercise all of its other legal rights in relation to the Secured Property.
Powers of Enforcement. If an Event of Default has occurred and is continuing, the Trustee may upon being indemnified, secured and/or prefunded to its satisfaction by the ETP Securityholders , enforce the Security constituted by this Security Agreement by taking any one or more of the following actions:
(i) exercise, in addition to all other rights and remedies granted to it in this Security Agreement and in any other instrument or agreement securing, evidencing or relating to the Secured Obligations, all rights and remedies available to a secured party under the UCC (whether or not in effect in the jurisdiction where such rights are exercised) with respect to the Collateral, and all rights under any applicable laws and enforce any other remedy available to the Trustee for itself as a trustee on behalf of the Secured Creditors at law or in equity (including, without limiting the foregoing, a power of sale and a right of appropriation, where applicable); and
(ii) without being required to give any notice, except as herein provided or as may be required by mandatory provisions of law, take possession of and/or realise all or part of the assets over which the Security constituted by this Security Agreement shall have become enforceable and may in its discretion, sell, call in, collect and convert into money all or part of such assets, in such manner, at such time and on such terms as it thinks fit.
Powers of Enforcement. If an Event of Default occurs the Lender may in the name of the relevant Obligor or otherwise:
(a) take possession of and sell the Secured Property (and for this purpose the Lender or its agents may enter any premises where the Secured Property is held and repossess the Secured Property); and/or
(b) at any time, do anything that the Obligor could do in relation to the Secured Property and the Obligor's business and its operations generally; and/or
(c) exercise all the rights of a natural person in relation to the Secured Property and the Obligor’s business and its operations generally; and/or
(d) debit the Obligors account for any costs incurred by the Lender in meeting the obligations of the Obligor under this Agreement, including the cost of locating, insuring or taking possession of the Secured Property; and/or
(e) exercise all of its other legal rights in relation to the Secured Property.
Powers of Enforcement of the Lender on and after occurrence of an Enforcement Event
6.1 On the occurrence of an Enforcement Event, the Pledge created under clause 1 shall become immediately enforceable. At any time thereafter, the Lender shall have the right to initiate the enforcement procedure, and to exercise all the rights, contemplated by Title VI, Chapter 5 of Law 99/1999 including (without limitation) the following:
(a) appropriate the whole or any part of the Pledged Shares, and take possession and full rights of ownership of the Pledged Shares, in or towards satisfaction of the Secured Liabilities; or
(b) sell and dispose of the whole or any part of the Pledged Shares, by public auction, private tender, private treaty or otherwise, and appropriate the proceeds of any such sale or disposal in or towards the satisfaction of the Secured Liabilities; and/or
(c) proceed to enforce this pledge agreement through the courts or in any other manner permitted by law.
6.2 Power to appropriate the Pledged Shares The Pledgor hereby agrees, as contemplated by article 73 of Title VI, Chapter V of Law 99/1999 that the Lender may appropriate the Pledged Shares itself or themselves in any sale, without first giving the opportunity to third parties to participate in such sale. If the Lender elect to appropriate the Pledged Shares (or part) pursuant to clause 6.1 (a), then the value of the Pledged Shares applied towards satisfaction of the Secured Liabilities shall be determined:
(a) by agreement between the Lender and the Pledgor;
(b) in default of such agreement, by an independent expert in the valuation of shares in companies in Romania (a “Valuer”) nominated jointly by the parties; or
(c) if the parties cannot agree on the identity of an appropriate Valuer, a Valuer appointed by the Lender. The costs of the Valuer shall be added to the Total Amount from the Principal Contract.
