Right to Initiate Judicial Proceedings, Etc. If and only if the Collateral Trustees shall have received a Notice of Actionable Default and during such time as the Collateral Trustees shall not have received a notice of withdrawal of such Notice of Actionable Default in accordance with the provisions of Section 2.1(b) hereof, at the direction in writing of the Credit Facility Agent as provided in Section 2.2, the Corporate Trustee, and if the Corporate Trustee deems necessary or desirable, the Individual Trustee, jointly or individually as the Corporate Trustee may determine in its sole discretion, (i) shall have the right and power to institute and maintain such suits and proceedings as the Credit Facility Agent may deem appropriate to protect and enforce the rights vested in the Collateral Trustees by this Agreement and each Security Document, and (ii) may, either after entry or without entry, proceed by suit or suits at law or in equity to enforce such rights and to foreclose upon the Collateral and to sell all or, from time to time, any of the Collateral Trust Estate under the judgment or decree of a court of competent jurisdiction.
Right to Initiate Judicial Proceedings, Etc. If an Actionable Default shall have occurred and be continuing and if the Collateral Agent shall have received a Notice of Actionable Default with respect thereto which has not been withdrawn in a writing delivered to the Collateral Agent by the Applicable Authorized Representative:
(i) subject to the terms of the Intercreditor Agreement and Section 6 hereof, the Collateral Agent shall have the right and power to institute and maintain such suits and proceedings as it may deem appropriate to protect and enforce the rights vested in it by this Agreement, the Intercreditor Agreement and each Security Document to the fullest extent permitted by applicable law, and
(ii) subject to the terms of the Intercreditor Agreement and Section 6 hereof, the Collateral Agent may, either after entry or without entry, proceed by suit or suits at law or in equity to enforce such rights and to foreclose upon the Collateral and to sell all or, from time to time, any of the Trust Estate under the judgment or decree of a court of competent jurisdiction to the fullest extent permitted by applicable law.
Right to Initiate Judicial Proceedings, Etc. (a) Even if the Collateral Agent has not received a Notice of Acceleration Default from the Applicable Representative or a Notice of Actionable Default from Majority Creditors, the Collateral Agent shall nevertheless have the right and power, but not the obligation, to institute and maintain such suits and proceedings as it may deem appropriate to protect and enforce the rights vested in it by this Collateral Agent Agreement and each other Security Document; provided, however, that as set forth in Section 3.3(a), foreclosure of the Liens and Security Interests in the Collateral may not be commenced prior to the Collateral Agent's receipt of a Notice of Acceleration Default and instructions from the Applicable Representative or a Notice of Actionable Default and instructions from Majority Creditors.
(b) If and only if the Collateral Agent shall have received a Notice of Acceleration Default from the Applicable Representative and during such time as such Notice of Acceleration Default shall not have been withdrawn, the Collateral Agent may, either after entry or without entry, proceed by suit or suits at law or in equity to foreclose upon the Collateral and to sell all or, from time to time, any of the Secured Debt Collateral under the judgment or decree of a court of competent jurisdiction.
Right to Initiate Judicial Proceedings, Etc. If and only if the Collateral Agent shall have received a Notice of Actionable Default and such Notice of Actionable Default shall not have been withdrawn in accordance with the provisions of the definition of Actionable Default:
(i) the Collateral Agent shall have the right and power to institute and maintain such suits and proceedings as it may deem appropriate to protect and enforce the rights vested in it by this Agreement and each Collateral Document, and
(ii) the Collateral Agent may, either after entry or without entry, proceed by suit or suits at law or in equity to enforce such rights and to foreclose upon the Collateral and to sell all or, from time to time, any of the Trust Estate under the judgment or decree of a court of competent jurisdiction.
Right to Initiate Judicial Proceedings, Etc. If and only if the Trustee shall have received a Notice of Actionable Default and such Notice of Actionable Default shall not have been withdrawn in accordance with the provisions hereof:
(i) the Trustee shall have the right and power to institute and maintain such suits and proceedings as it may deem appropriate to protect and enforce the rights vested in it by this Agreement and each Security Document, and
(ii) the Trustee may, either after entry or without entry, proceed by suit or suits at law or in equity to enforce such rights and to foreclose upon the Collateral and to sell all or, from time to time, any of the Trust Estate under the judgment or decree of a court of competent jurisdiction.
Right to Initiate Judicial Proceedings, Etc. The Collateral Agent shall have the right, obligation and power to institute and maintain, and it shall institute and maintain, such suits and proceedings as it may be directed by the Instructing Group pursuant to this Agreement to protect and enforce the rights vested in it by this Agreement for the benefit of the Secured Parties.
Right to Initiate Judicial Proceedings, Etc. Upon the occurrence and during the continuance of an Event of Default (a) the Collateral Agent shall have the right and power to institute and maintain such suits and proceedings as it may deem appropriate to protect and enforce the rights vested in the Collateral Agent by this Agreement and the other Financing Documents; and (b) the Collateral Agent may, either after entry or without entry proceed by suit or suits at law or in equity to enforce such rights and to foreclose upon the Collateral and to realize upon all or, from time to time, any of the property pledged hereunder for the benefit of the Secured Parties under the judgment or decree of a court of competent jurisdiction.
Right to Initiate Judicial Proceedings, Etc. (a) If the Security Trustee shall have received an Enforcement Direction:
(i) the Security Trustee shall have the right and power to institute and maintain such suits and proceedings as (subject to receipt of the Requisite Approval and to limitations on commencing bankruptcy proceedings as set forth in this Agreement) it may deem appropriate to protect and enforce the rights vested in it in the Finance Documents; and
(ii) the Security Trustee, either after entry or without entry, may proceed (subject to receipt of the Requisite Approval and to limitations on commencing bankruptcy proceedings as set forth in this Agreement) by suit or suits at law or in equity to enforce such rights and to foreclose upon the Secured Collateral assigned for the benefit and to the extent of the interest therein of such Secured Parties and to realise as permitted under any Finance Document upon all or, from time to time, any of the property of the trust established under any Finance Document for the benefit of such Secured Parties under the judgment or decree of a court of competent jurisdiction.
(b) If the Security Trustee receives an Enforcement Direction, it is entitled to assume that all applicable conditions under the Finance Documents for taking any action specified therein have been satisfied.
Right to Initiate Judicial Proceedings, Etc. Without limiting the provisions of Section 8.4 hereof, if, and only if, the Collateral Agent has received an Enforcement Notice and such Enforcement Notice has not been withdrawn in accordance with the provisions of this Agreement:
(a) the Collateral Agent shall have the right and power (but not the obligation) to institute and maintain such suits and proceedings as may be appropriate to protect and enforce the rights vested in it by this Agreement and each Security Document; and
(b) the Collateral Agent may (but shall not be obligated to), either after entry or without entry, proceed by suit or suits at law or in equity to enforce such rights and to foreclose upon the Account Collateral and to sell all or, from time to time, any of the Trust Estate under the judgment or decree of a court of competent jurisdiction.
Right to Initiate Judicial Proceedings, Etc. The Secured Parties Representative shall have the right and power to institute and maintain such suits and proceedings as it may deem appropriate to protect and enforce the rights vested in it, the Representatives and the other Secured Parties by this Agreement and the other Transaction Documents. After the Secured Parties Representative shall have received a Liquidation Direction and so long as such Liquidation Direction is in effect, the Secured Parties Representative may, either after entry or without entry, proceed by suit or suits at law or in equity to enforce such rights and to foreclose upon the Collateral and to sell all, or from time to time any, of the Collateral under the judgment or decree of a court of competent jurisdiction. The Secured Parties Representative shall not take any of the actions permitted by this Section 5.2 unless directed to do so pursuant to Section 3.5(c)(iv) or Section 5.4(a).
