Common use of WHEN SECURITY BECOMES ENFORCEABLE Clause in Contracts

WHEN SECURITY BECOMES ENFORCEABLE. The security hereby conferred shall become immediately enforceable and the floating charge created by this Debenture shall be deemed to have crystallized and an unrestricted power of sale together with any powers conferred by statute as varied or amended or granted by this Debenture shall be immediately exercisable by the Collateral Agent (i) if the Owner fails to meet the Obligations in the manner specified in Section 2.1 or (ii) upon and after the occurrence of any Event of Default. After this security has become enforceable, the Collateral Agent may in its discretion enforce all or any part of this security, and exercise all or any rights of enforcement hereby granted, in such manner as the Collateral Agent sees fit.

WHEN SECURITY BECOMES ENFORCEABLE. The security hereby conferred shall become immediately enforceable and the floating charge created by this Debenture shall be deemed to have crystallized and an unrestricted power of sale together with any powers conferred by statute as varied or amended or granted by this Debenture shall be immediately exercisable by the Collateral Agent the (i) if the Owner fails to meet the Obligations in the manner specified in Section 2.1 or (ii) upon and after the occurrence of any Event of Default. After this security has become enforceable, the Collateral Agent may in its discretion enforce all or any part of this security, and exercise all or any rights of enforcement hereby granted, in such manner as the Collateral Agent sees fit.

WHEN SECURITY BECOMES ENFORCEABLE. The security hereby conferred shall become immediately enforceable and the floating charge created by this Debenture shall be deemed to have crystallized and an unrestricted power of sale together with any and other powers conferred by statute as varied or amended or granted by this Debenture shall be immediately exercisable by the Collateral Agent the (i) if the Owner fails to meet the Obligations in the manner specified in Section 2.1 or (ii) upon and after the occurrence of any Event of Default. After this security has become enforceable, the Collateral Agent may in its discretion enforce all or any part of this security, and exercise all or any rights of enforcement hereby granted, in such manner as the Collateral Agent sees fit.