Common use of Time for Enforcement Clause in Contracts

Time for Enforcement. If an Enforcement Event has occurred and is continuing or if a petition or application is presented for the making of a winding-up order in relation to the Chargor or if any person who is entitled to do so gives written notice of its intention to appoint an administrator of the Chargor or files such a notice with the court or is requested to do so by the Chargor, save to the extent that such petition, application, notice or filing is not made by a member of the Group or any director of any member of the Group and is frivolous or vexatious and is stayed, dismissed or withdrawn within 4 Business Days of such petition, application, notice or filing being made the security created by or pursuant to this Agreement is immediately enforceable and the Collateral Agent may, without notice to the Chargor or prior authorisation from any court, subject to applicable laws, in its absolute discretion or shall, if so instructed by the Applicable Representative and if indemnified and/or secured and/or prefunded to its satisfaction: (a) secure and perfect its title to all or any part of the Charged Portfolio (including transferring the Charged Portfolio into the name of the Collateral Agent or its nominees); (b) enforce all or any part of the Lien created by this Agreement (at the times, in the manner and on the terms it in its sole discretion thinks fit) and take possession of and hold, sell, or otherwise dispose of all or any part of the Charged Portfolio (at the time, in the manner and on the terms it in its sole discretion thinks fit); and (c) whether or not it has appointed a Receiver, exercise all or any of the powers, authorisations and discretions conferred by this Agreement on any Receiver or otherwise conferred by law on chargees or Receivers.

Time for Enforcement. If an Enforcement Event has occurred and is continuing continuing, or if a petition or application is presented for the making of a winding-up an administration order in relation to the Chargor Company, or if any person who is entitled to do so gives written notice of its intention to appoint an administrator of the Chargor Company or files such a notice with the court or is requested to do so by the ChargorCompany, save to the extent that such petition, application, notice or filing is not made by a member of the Group or any director of any member of the Group and is frivolous or vexatious and is stayed, dismissed or withdrawn within 4 Business Days of such petition, application, notice or filing being made made, the security created by or pursuant to this Agreement is immediately enforceable and the Collateral Agent may, without notice to the Chargor Company or prior authorisation from any court, subject to applicable laws, in its absolute discretion or and shall, if so instructed by the Applicable Representative and if indemnified and/or secured and/or prefunded to its satisfactionRepresentative: (a) secure and perfect its title to all or any part of the Charged Portfolio Deposits (including transferring the Charged Portfolio same into the name of the Collateral Agent or its nomineesnominee(s)) or otherwise exercise in relation to the Deposits all the rights of an absolute owner; (b) enforce all or any part of the Lien security created by or pursuant to this Agreement (at the times, in the manner and on the terms it in its sole discretion thinks fit) and take possession of and hold, sell, hold or otherwise dispose of all or any part of the Charged Portfolio (at the time, in the manner and on the terms it in its sole discretion thinks fit)Deposits; and (c) whether or not it has appointed a Receiver, exercise all or any of the powers, authorisations and discretions conferred by the Law of Property Xxx 0000 (as varied or extended by this Agreement) on chargees and by this Agreement on any Receiver or otherwise conferred by law on chargees or Receivers.

Time for Enforcement. If an Enforcement Event has occurred and is continuing continuing, or if a petition or application is presented for the making of a winding-up an administration order in relation to the Chargor Company, or if any person who is entitled to do so gives written notice of its intention to appoint an administrator of the Chargor Company or files such a notice with the court or is requested to do so by the ChargorCompany, save to the extent that such petition, application, notice or filing is not made by a member of the Group or any director of any member of the Group and is frivolous or vexatious and is stayed, dismissed or withdrawn within 4 Business Days of such petition, application, notice or filing being made made, the security created by or pursuant to this Agreement is immediately enforceable and the Collateral Agent may, without notice to the Chargor Company or prior authorisation from any court, subject to applicable laws, in its absolute discretion or and shall, if so instructed by the Applicable Representative and if indemnified and/or secured and/or prefunded to its satisfactionRepresentative: (a) secure and perfect its title to all or any part of the Charged Portfolio Deposits (including transferring the Charged Portfolio same into the name of the Collateral Agent or its nomineesnominee(s)) or otherwise exercise in relation to the Deposits all the rights of an absolute owner; (b) enforce all or any part of the Lien security created by or pursuant to this Agreement (at the times, in the manner and on the terms it in its sole discretion thinks fit) and take possession of and appropriate, hold, sell, sell or otherwise dispose of all or any part of the Charged Portfolio Deposits (at the time, in the manner and on the terms it in its sole discretion thinks fitfit (including whether for cash or non-cash consideration)); and (c) whether or not it has appointed a Receiver, exercise all or any of the powers, authorisations and discretions conferred by the Law of Property Xxx 0000 (as varied or extended by this Agreement) on chargees and by this Agreement on any Receiver or otherwise conferred by law on chargees or Receivers.

Time for Enforcement. If On and at any time after the occurrence of an Enforcement Event has occurred and of Default (which is continuing continuing) or if the Chargor requests the Security Trustee to exercise any of its powers under this Agreement or if a petition or application is presented for the making of a winding-up an administration order (or its equivalent in the jurisdiction in which the Chargor is incorporated) in relation to the Chargor or if any person who is entitled to do so gives written notice of its intention to appoint an administrator (or its equivalent in the jurisdiction in which the Chargor is incorporated) of the Chargor or files such a notice with the court or is requested to do so by the Chargorcourt, save to the extent that such petition, application, notice or filing is not made by a member of the Group or any director of any member of the Group and is frivolous or vexatious and is stayed, dismissed or withdrawn within 4 Business Days of such petition, application, notice or filing being made the security created by or pursuant to this Agreement is immediately enforceable and the Collateral Agent Secured Party may, without notice to the Chargor or prior authorisation from any court, subject to applicable laws, in its absolute discretion or shall, if so instructed by the Applicable Representative and if indemnified and/or secured and/or prefunded to its satisfactiondiscretion: (a) secure and perfect its title to all or any part of the Charged Portfolio and/or Assigned Property (including transferring the Charged Portfolio same into the name of the Collateral Agent Secured Party or its nominees)) or, in relation to the Assigned Property, otherwise exercise in relation to the Assigned Property all the rights of an absolute owner; (b) enforce all or any part of the Lien created by this Agreement Security (at the times, in the manner and on the terms it in its sole discretion thinks fit) and and: (i) take possession of and hold, sell, or otherwise dispose of all or any part of the Charged Portfolio (at the time, in the manner and on the terms it in its sole discretion thinks fit); andand/or (ii) appropriate, hold, sell, or otherwise dispose of all or any part of the Assigned Property (at the time, in the manner and on the terms it thinks fit); (c) whether or not it has appointed a Receiver, exercise all or any of the powers, authorisations and discretions conferred by the Act (as varied or extended by this Agreement, but free from the restrictions imposed by Section 25 thereof) on chargees and by this Agreement on any Receiver or otherwise conferred by law on chargees mortgagees or Receivers; and (d) collect, recover or compromise, and give good discharge for any moneys paid or payable to the Chargor under or in respect of the Assigned Property, and enforce (in any way whatsoever including, without limitation, by way of instituting proceedings in the Chargor’s name) any rights or claims arising or in respect of the Assigned Property.