Common use of Right to Initiate Judicial Proceedings Clause in Contracts

Right to Initiate Judicial Proceedings. If an Enforcement Period is in effect, the Collateral Trustee, subject to the provisions of subsection 3.5(b), (a) 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 or the Secured Parties by this Trust Agreement, the Second Priority Guarantees or any of the Second Priority Security Documents and (b) may proceed by suit or suits at law or in equity to enforce such rights and to foreclose upon the Second Priority Collateral and to sell all or, from time to time, any of the Trust Estate or Second Priority Collateral under the judgment or decree of a court of competent jurisdiction.

Right to Initiate Judicial Proceedings. If an Enforcement Period is in effect, the Collateral Trustee, subject to the provisions of subsection 3.5(b), (a) 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 or the Secured Parties by this Trust Agreement, the Second First Priority Guarantees or any of the Second First Priority Security Documents and (b) may proceed by suit or suits at law or in equity to enforce such rights and to foreclose upon the Second First Priority Collateral and to sell all or, from time to time, any of the Trust Estate or Second First Priority Collateral under the judgment or decree of a court of competent jurisdiction.

Right to Initiate Judicial Proceedings. If an Enforcement Period is in effect, the Collateral Trustee, subject to the provisions of subsection 3.5(b), (a) 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 or the Secured Parties Patties by this Trust Agreement, the Second First Priority Guarantees or any of the Second First Priority Security Documents and (b) may proceed by suit or suits at law or in equity to enforce such rights and to foreclose upon the Second First Priority Collateral and to sell all or, from time to time, any of the Trust Estate or Second First Priority Collateral under the judgment or decree of a court of competent jurisdiction.