Junior Lien Enforcement Date definition
Junior Lien Enforcement Date means the date which is 180 days after the occurrence of both (i) an Event of Default (under and as defined in any applicable Junior Lien Document) and (ii) the Collateral Trustee’s receipt of written notice from a Junior Lien Representative that (x) an Event of Default (under and as defined in any applicable Junior Lien Document) has occurred and is continuing, (y) any tranche of the Junior Lien Obligations are currently due and payable in full (whether as a result of acceleration thereof, at final maturity thereof or otherwise) in accordance with the terms of the Junior Lien Documents and (z) the Junior Lien Representative intends to exercise any rights or remedies or to instruct the Collateral Trustee to exercise any rights or remedies; provided that the Junior Lien Enforcement Date shall be stayed 9
Junior Lien Enforcement Date has the meaning set forth in the Collateral Trust Agreement (as of the Issue Date).
Junior Lien Enforcement Date means, with respect to any Junior Lien Representative, the date which is 180 days after the occurrence of both (i) an event of default (under and as defined in the Junior Lien Document for which such Junior Lien Representative has been named as Representative) and (ii) the Designated Equal Priority Representative’s and each other Representative’s receipt of written notice from such ▇▇▇▇▇▇ ▇▇▇▇ Representative that (x) such ▇▇▇▇▇▇ ▇▇▇▇ Representative is the Designated ▇▇▇▇▇▇ ▇▇▇▇ Representative and that an event of default (under and as defined in the Junior Lien Document for which such Junior Lien Representative has been named as Representative) has occurred and is continuing and (y) the Junior Lien Obligations of the series with respect to which such Junior Lien Representative is the Junior Lien Representative are currently due and payable in full (whether as a result of acceleration thereof or otherwise) in accordance with the terms of the applicable Junior Lien Document; provided that the Junior Lien Enforcement Date shall be stayed and shall not occur and shall be deemed not to have occurred with respect to any Shared Collateral (1) at any time the Designated Equal Priority Representative has commenced and is diligently pursuing any enforcement action with respect to such Shared Collateral or (2) at any time the Grantor which has granted a security interest in such Shared Collateral is then a debtor under or with respect to (or otherwise subject to) any insolvency or liquidation proceeding.
More Definitions of Junior Lien Enforcement Date
Junior Lien Enforcement Date means, with respect to the Junior Lien Collateral Trustee, (a) prior to the Discharge of Priority Lien Obligations, the date which is 270 days after the occurrence of both (i) an Event of Default (under and as defined in the Junior Lien Documents) and (ii) the receipt by the Priority Lien Agents and the Parity Lien Collateral Trustee of written notice from the Junior Lien Collateral Trustee that (x) an Event of Default (under and as defined in the Junior Lien Documents) has occurred and is continuing and (y) the Junior Lien Obligations are currently due and payable in full (whether as a result of acceleration thereof or otherwise) in accordance with the terms of the applicable Junior Lien Document; provided that the Junior Lien Enforcement Date shall be stayed and shall not occur and shall be deemed not to have occurred (1) at any time the Designated Priority Lien Agent has commenced and is diligently pursuing any enforcement action with respect to all or any material portion of the Shared Collateral (with prompt written notice of the commencement of such action to be given to the other Priority Lien Agents, the Parity Lien Collateral Trustee and the Junior Lien Collateral Trustee) or (2) at any time the Company or applicable other Grantor which has granted a security interest in such Shared Collateral is then a debtor under or with respect to (or otherwise subject to) any Insolvency or Liquidation Proceeding and (b) following the Discharge of Priority Lien Obligations but prior to the Discharge of Parity Lien Obligations, the date which is 180 days after the occurrence of both (i) an Event of Default (under and as defined in the Junior Lien Documents) and (ii) the Parity Lien Collateral Trustee’s receipt of written notice from the Junior Lien Collateral Trustee that (x) an Event of Default (under and as defined in the Junior Lien Documents) has occurred and is continuing and (y) the Junior Lien Obligations are currently due and payable in full (whether as a result of acceleration thereof or otherwise) in accordance with the terms of the applicable Junior Lien Document; provided that the Junior Lien Enforcement Date shall be stayed and shall not occur and shall be deemed not to have occurred (1) at any time the Parity Lien Collateral Trustee has commenced and is diligently pursuing any enforcement action with respect to all or any material portion of the Shared Collateral or (2) at any time the Company or applicable other Grantor which has granted a securi...
Junior Lien Enforcement Date has the meaning set forth in Section 2.04(a) hereof.
Junior Lien Enforcement Date means, with respect to any Junior Lien Representative, the date which is 180 days after the occurrence of both
Junior Lien Enforcement Date means the date which is 180 days after the occurrence of both (i) an Event of Default (under and as defined in the Junior Lien Debt Agreement) and (ii) the Senior Lien Representative’s receipt of written notice from the Junior Lien Representative that (x) an Event of Default (under and as defined in the Junior Lien Debt Agreement) has occurred and is continuing and (y) the Junior Lien Obligations are currently due and payable in full (whether as a result of acceleration thereof or otherwise).