SECURITY TO BECOME ENFORCEABLE Clause Samples
SECURITY TO BECOME ENFORCEABLE. The Security Interests constituted by this Deed shall become enforceable at any time after the occurrence and during the continuance of an Event of Default or if the Company shall fail to comply with any of the obligations assumed by it in this Deed, and immediately thereafter the powers conferred upon the Security Trustee by section 101 of the Act as varied and extended by this Deed shall be exercisable without the restrictions imposed by section 103 of the Act as to the giving of notice or otherwise.
SECURITY TO BECOME ENFORCEABLE. The security hereby constituted shall become immediately enforceable if and when one or more of the following events (herein sometimes called “Events of Default”) shall happen: