Common use of Restrictions on enforcement by the Intercompany Creditors Clause in Contracts

Restrictions on enforcement by the Intercompany Creditors. (a) Until the Final Discharge Date, no Intercompany Creditor shall, except with the prior consent of or as required by the Security Agent, take any Enforcement Action in relation to any Intercompany Debt. (b) If required by the Security Agent to take Enforcement Action, the Intercompany Creditors will promptly take the relevant Enforcement Action and apply any proceeds from that Enforcement Action in accordance with Clause 7 (Turnover of Non-Permitted Payments).

Restrictions on enforcement by the Intercompany Creditors. (a) Until the Final Discharge Date, if an Event of Default has occurred, no Intercompany Creditor shall, except with the prior written consent of or as required by the Security Agent, take any Enforcement Action in relation to any Intercompany DebtDebt or intercompany debt subject to Transaction Security. (b) If required by the Security Agent to take Enforcement Action, the Intercompany Creditors will promptly take the relevant Enforcement Action and apply any proceeds from that Enforcement Action in accordance with Clause 7 8 (Turnover of Non-Permitted Payments).

Restrictions on enforcement by the Intercompany Creditors. (a) Until the Final Discharge Date, no Intercompany Creditor shall, except with the prior written consent of or as required by the Security Agent, take any Enforcement Action in relation to any Intercompany DebtDebt or intercompany debt subject to Transaction Security. (b) If required by the Security Agent to take Enforcement Action, the Intercompany Creditors will promptly take the relevant Enforcement Action and apply any proceeds from that Enforcement Action in accordance with Clause 7 8 (Turnover of Non-Permitted Payments).