Common use of Right to Initiate Judicial Proceedings, Etc Clause in Contracts

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and if the Collateral Agent shall have received a Notice of Actionable Default with respect thereto which has not been withdrawn in a writing delivered to the Collateral Agent by the Applicable Authorized Representative: (i) subject to the terms of the Intercreditor Agreement and Section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. If an Actionable Default shall have occurred and be continuing and if Upon the Collateral Agent shall have received receipt of a Notice of Actionable Default with respect thereto which has and so long as such Notice of Actionable Default shall not have been withdrawn in a writing delivered to the Collateral Agent by the Applicable Authorized Representativerequisite holders of the Series of Obligations to which such Notice of Actionable Default relates (determined under the Documents governing such Series) or by the Representative with respect to such Series: (ia) 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 Collateral Document to the fullest extent permitted by applicable law, ; and (iib) 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. If an Actionable Default shall have occurred and be continuing and if the Collateral Agent Trustee shall have received a Notice of Actionable Default with respect thereto which has not been withdrawn in a writing written notice delivered to the Collateral Agent Trustee by the Applicable Authorized Parity Lien Representative: (i) subject to the terms of the Intercreditor Agreement and Section 6 hereof, the Collateral Agent Trustee shall have the right and power 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 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 Trustee 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 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. If an Actionable Default shall have occurred and be continuing and if the Collateral Agent Trustee shall have received a Notice of Actionable Default with respect thereto which has not been withdrawn in a writing delivered to the Collateral Agent Trustee by the Applicable Authorized Parity Lien Representative: (i) subject to the terms of the Intercreditor Agreement and Section 6 hereof, the Collateral Agent Trustee shall have the right and power 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 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 Trustee 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 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.