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

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from the Applicable Representative and during such time as such Notice of Acceleration Default shall not have been withdrawn, the Collateral Agent may, either after entry or without entry, proceed by suit or suits at law or in equity to foreclose upon the Collateral and to sell all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. (a) Even Upon the occurrence of and during the continuance of any Actionable Default and the receipt by the Collateral Trustees of an Actionable Default Notice that has not been withdrawn pursuant to Section 4.01(b) above, the Corporate Trustee, and if the Collateral Agent has not received a Notice of Acceleration Default from the Applicable Representative Corporate Trustee deems necessary or a Notice of Actionable Default from Majority Creditorsdesirable, the Collateral Agent Individual Trustee, jointly or individually as the Corporate Trustee may determine, (i) shall nevertheless have the right and power, but not the obligation, power to institute and maintain such suits and proceedings as it or they, as the case may be, or the Required Representatives may deem appropriate to protect and enforce the rights vested in it them by this Collateral Agent Agreement and each the other Security Document; providedShared Collateral Documents and (ii) may either, 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 enforce such rights and to foreclose upon the Collateral and to sell dispose of, collect or otherwise realize upon, all or, from time to time, or any portion of the Secured Debt Collateral Trust Estate under the judgment or decree of a court of competent jurisdiction. (b) If a receiver of the Collateral Trust Estate shall be appointed in judicial proceedings, the Collateral Trustees may be appointed as such receiver. Notwithstanding the appointment of a receiver, the Collateral Trustees shall be entitled to retain possession and

Right to Initiate Judicial Proceedings, Etc. (a) Even Notwithstanding any other provision of this Agreement, upon the occurrence of and during the continuance of any Collateral Trust Agreement Default and the receipt by the Collateral Trustees of a Collateral Trust Agreement Default Notice that has not been withdrawn pursuant to Section 4.01(b) above, the Corporate Trustee, and if the Collateral Agent has not received a Notice of Acceleration Default from the Applicable Representative Corporate Trustee deems necessary or a Notice of Actionable Default from Majority Creditorsdesirable, the Collateral Agent Individual Trustee, jointly or individually as the Corporate Trustee may determine, (i) shall nevertheless have the right and power, but not the obligation, power to institute and maintain such suits and proceedings as it or they, as the case may be, or the Required Representative(s) may deem appropriate to protect and enforce the rights vested in it by this Collateral Agent Agreement and each the other Security Document; providedShared Collateral Documents and (ii) may either, 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 enforce such rights and to foreclose upon the Collateral and to sell dispose of, collect or otherwise realize upon, all or, from time to time, or any portion of the Secured Debt Collateral Trust Estate under the judgment or decree of a court of competent jurisdiction. (b) If a receiver of the Collateral Trust Estate shall be appointed in judicial proceedings, the Collateral Trustees may be appointed, at its discretion, as such receiver. Notwithstanding the appointment of a receiver, the Collateral Trustees shall be entitled to retain possession and control of all cash held by or deposited with them or their agents or co-trustees pursuant to any provision of this Agreement or any other Shared Collateral Document.