Common use of Right to Initiate Judicial Proceedings Clause in Contracts

Right to Initiate Judicial Proceedings. If a Notice of Enforcement is in effect, the Trustees, subject to the provisions of subsection 2.5(b), (a) shall have the right and power to institute and maintain such suits and proceedings as they may deem appropriate to protect and enforce the rights vested in them by this Trust Agreement, the Guarantees and the Security Documents and (b) may 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.

Right to Initiate Judicial Proceedings. If a Notice of Enforcement Default is in effect, the TrusteesCollateral Trustee, subject to the provisions of subsection Sections 2.5(b)) and 4.6, (a) shall have the right and power to institute and maintain such suits and proceedings as they it may deem appropriate to protect and enforce the rights vested in them it by this Agreement and each Trust Agreement, the Guarantees and the Security Documents Document and (b) may 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.