Collateral Action definition

Collateral Action is defined in Section 10.7(c).
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Collateral Action means (a) any action to enforce or foreclose on, whether by judicial action or otherwise, a Lien on any Collateral or other assets of any Obligor, (b) any action to take control or possession of, or sell or otherwise realize upon, or to exercise any other rights or remedies with respect to, any Collateral or other assets of any Obligor, (c) the taking of any other actions against any Collateral or other assets of any Obligor, including the taking of control or possession of, or the exercise of any right of setoff with respect to, any Collateral or other assets of any Obligor, or (d) to commence (or join with another Person in commencing) any action or proceeding to facilitate any of the actions described in clauses (a) through (c) of this definition.
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Collateral Action means any action or proceeding taken by the Collateral Agent, on behalf of the Creditors, against the Net Group or all or any part of the Collateral, in each case for the purpose of enforcing the rights of any Creditor under or in respect of the Security Agreements, including, without limitation, the initiation of action in any court or arbitration board or before any administrative agency or governmental tribunal to enforce such rights.
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Examples of Collateral Action in a sentence

  • Without implying any limitation on the obligation of Subordinated Creditor to turn over to Senior Creditors all Distributions in respect of the Subordinated Debt until the Senior Debt has been Paid in Full, no Subordinated Creditor shall, without the prior written consent of Senior Creditors, take any Collection Action or Collateral Action.

  • Defendant explains that he commenced the State Court Collateral Action after the Bankruptcy Court declined to entertain Defendant’s jurisdictional attack upon the State Court Action.

  • The Collateral Agent is not empowered to exercise any remedy under this Agreement or any other Financing Document unless the Event of Default described in the relevant Notice of Default is continuing, and has been so directed by DOE in a Collateral Action Notice.

  • The provisions of Sections 10.1(a), 10.2(b), 10.3, 10.4 and 10.6 shall not apply to any Collateral Action.

  • The Junior Secured Parties hereby acknowledge and agree that their sending the Junior Secured Parties Collateral Action Notice shall be an absolute condition precedent to their right to direct the Collateral Agent in accordance with the immediately preceding sentence.

  • When a draft report is issued to more than one office, the Primary Action Official (PAO), as designated in ED-OIG’s transmittal letter for bound reports or the administrative matters section for letter reports, is responsible for coordinating and consolidating the response of all Collateral Action Officials (CAO).

  • Commencing on the Effective Date, or in connection with any Collateral Action (as defined below) required to be taken after the Effective Date, each reference to the Security Agent in the Credit Agreement and the other Loan Documents shall refer to the Successor Security Agent and not to the Resigning Security Agent.


More Definitions of Collateral Action

Collateral Action means an action or proceeding, including an administrative proceeding, that is factually or legally related to an arrest, a criminal charge, a juvenile delinquency allegation, a conviction, or a juvenile delinquency adjudication. The term includes a proceeding or action concerning a seizure, a civil forfeiture, and a petition for specialized driving privileges.
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Related to Collateral Action

  • Credit Agreement Collateral Agent has the meaning assigned to such term in the introductory paragraph of this Agreement.

  • ABL Collateral Agent means JPMorgan Chase Bank, N.A., in its capacity as collateral agent for the ABL Facility Secured Parties, together with its successors and permitted assigns under the ABL Facility Agreement and the ABL Facility Collateral Documents.

  • Collateral Proceeds Account a non-interest bearing cash collateral account established and maintained by the relevant Grantor at an office of the Collateral Account Bank in the name, and in the sole dominion and control of, the Collateral Agent for the benefit of the Secured Parties.

  • Senior Collateral Agent means Citicorp USA, Inc., in its capacity as Senior Collateral Agent under the Senior Collateral Documents, and its successors.

  • Applicable Collateral Agent means (i) until the earlier of (x) the Discharge of Credit Agreement and (y) the Non-Controlling Representative Enforcement Date, the Credit Agreement Collateral Agent and (ii) from and after the earlier of (x) the Discharge of Credit Agreement and (y) the Non-Controlling Representative Enforcement Date, the Collateral Agent for the Series of First Lien Obligations represented by the Major Non-Controlling Representative.

  • ABL Collateral means all of the assets and property of any Grantor, whether real, personal or mixed, with respect to which a Lien is granted as security for any ABL Obligations.

  • LC Collateral Account has the meaning assigned to such term in Section 2.06(j).

  • First Lien Collateral Agent means the “Collateral Agent” as defined in the First Lien Credit Agreement.

  • Collateral Access Agreement means a landlord waiver, bailee letter, or acknowledgement agreement of any lessor, warehouseman, processor, consignee, or other Person in possession of, having a Lien upon, or having rights or interests in the Equipment or Inventory, in each case, in form and substance satisfactory to Lender.

  • Facility LC Collateral Account is defined in Section 2.20.11.

  • Second Lien Collateral Agent means the “Collateral Agent” as defined in the Second Lien Credit Agreement.

  • Swap Collateral Account means a single, segregated trust account in the name of the Indenture Trustee, which shall be designated as the “Swap Collateral Account” which shall be held in trust for the benefit of the Noteholders established pursuant to Section 4.8(e) of the Sale and Servicing Agreement.]

  • Collateral Proceeds means the Liquidation Proceeds of the Relevant Collateral or any Undeliverable Assets forming part of the Relevant Collateral (as the case may be) denominated in the Settlement Currency.

  • Collateral Account is any Deposit Account, Securities Account, or Commodity Account.

  • ABL Priority Collateral has the meaning set forth in the Intercreditor Agreement.

  • Borrower Collateral means all of Borrower's now owned or hereafter acquired right, title, and interest in and to each of the following:

  • Collateral Accounts means any and all accounts established and maintained by the Pledgee in the name of any Pledgor to which Collateral may be credited.

  • Counterparty Downgrade Collateral Account means an interest-bearing account of the Issuer with the Custodian into which all Counterparty Downgrade Collateral is to be deposited.

  • Controlling Collateral Agent means (i) until the earlier of (x) the Discharge of Credit Agreement Obligations and (y) the Non-Controlling Authorized Representative Enforcement Date, the Credit Agreement Collateral Agent and (ii) from and after the earlier of (x) the Discharge of Credit Agreement Obligations and (y) the Non-Controlling Authorized Representative Enforcement Date, the Additional Collateral Agent (acting on the instructions of the Applicable Authorized Representative).

  • Collateral Account Agreement means the Collateral Account Agreement executed and delivered by Company and Administrative Agent on the Closing Date, substantially in the form of EXHIBIT XXIII annexed hereto, as such Collateral Account Agreement may hereafter be amended, supplemented or otherwise modified from time to time.

  • Term Priority Collateral has the meaning set forth in the Intercreditor Agreement.

  • Landlord Personal Property Collateral Access Agreement means a Landlord Waiver and Consent Agreement substantially in the form of Exhibit S, with such amendments, modifications or supplements as may be approved by Collateral Agent.

  • Pledge Agreement Collateral means all "Collateral" as defined in the Pledge Agreement.

  • Enforcement Action means any action to enforce any Obligations or Loan Documents or to exercise any rights or remedies relating to any Collateral (whether by judicial action, self-help, notification of Account Debtors, exercise of setoff or recoupment, exercise of any right to vote or act in a Loan Party’s Insolvency Proceeding, or otherwise), in each case solely to the extent permitted by the Loan Documents.

  • Basic Collateral Agency Agreement means the Amended and Restated Basic Collateral Agency Agreement, dated as of March 1, 2009, among Daimler Trust, the Administrative Agent, Daimler Title Co., as collateral agent, and MBFS USA, as lender and as servicer.

  • Collateral Event means that no Relevant Entity has credit ratings at least equal to the Approved Ratings Threshold.