Restrictions on Enforcement Action. (a) Subject to the terms of this Agreement, each Original Lender and each Hedging Bank (including in its capacity as Lender) agrees that it shall not, for the duration of the Restructuring Period: (i) take any Enforcement Action; (ii) direct or encourage any other person to take any Enforcement Action; or (iii) vote, or allow any proxy appointed by it to vote, in favour of any Enforcement Action, and all Lender Standstill Agreements shall be superseded and replaced by the terms of this Agreement. (b) Clause 6.1(a) above shall not prevent or restrict: (i) the Original Lenders from taking any Enforcement Action to preserve the validity, existence or priority of their rights and claims in respect of their Exposures under the Existing Finance Documents; or (ii) the Hedging Banks from taking any Enforcement Action to preserve the validity, existence or priority of their claims in respect of their Hedging Exposures under the Existing Finance Documents. (c) The provisions of this Clause 6 (Lender Standstill and Forbearance) and the terms of this Agreement shall, until the Restructuring Effective Date, not constitute a waiver of any accrued rights under any of the Lender Standstill Agreements, save as expressly stated in this Agreement and each Original Lender and each Hedging Bank reserves all rights and remedies accrued pursuant to the Lender Standstill Agreements.
Appears in 4 contracts
Samples: Restructuring Agreement (HSBC Holdings PLC), Restructuring Agreement (Skandinaviska Enskilda Banken AB (Publ)), Restructuring Agreement (Danske Bank a/S)
