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

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Agent shall have received a Notice of Actionable Default and such Notice of Actionable Default shall not have been withdrawn in accordance with the provisions of the definition of Actionable Default: (i) the Collateral Agent shall have the right and power to institute and maintain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 Upon the Collateral Agent shall have received receipt of a Notice of Actionable Default and so long as such Actionable Default is continuing and such Notice of Actionable Default shall not have been withdrawn in accordance with the provisions of the definition of Actionable Defaultwithdrawn: (i) the Collateral Agent shall have the right and power to institute and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 DocumentSecurity Document to the fullest extent permitted by applicable law, 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 jurisdictionjurisdiction to the fullest extent permitted by applicable law.