Examples of Liquidation Commencement Notice in a sentence
Prior to receipt by it of a Liquidation Commencement Notice, the Disposal Agent may assume that no such event has occurred.
In accordance with the terms of the Trust Deed and Condition 4(d), following the occurrence of a Liquidation Event and delivery of a valid Liquidation Commencement Notice, the Security shall be released without further action on the part of the Trustee to the extent necessary for the Disposal Agent to effect the Liquidation of the Collateral.
Notwithstanding the above, following the effective delivery of a valid Liquidation Commencement Notice to the Disposal Agent (copied to each of the other Transaction Parties) the Disposal Agent on behalf of the Issuer shall have the right to undertake any action as contemplated by the Conditions and the Agency Agreement as it considers appropriate, and any actions in furtherance thereof or ancillary thereto as they relate to the Collateral, without requiring any sanction referred to therein.
Prior to receipt by it of a Liquidation Commencement Notice, the Disposal Agent may assume that no such event has occurred.Neither the Trustee nor the Enforcement Agent shall be required to monitor, enquire or satisfy itself as to whether any Liquidation Event has occurred or to calculate any Early Redemption Amount and shall have no obligation, responsibility or liability for giving or not giving any notice thereof to the Issuer, the Disposal Agent or any other Secured Creditor.
The Disposal Agent shall be entitled to rely on a Liquidation Commencement Notice without investigation of whether the relevant Liquidation Event has occurred, save that in the case of notice from one or more Noteholders of the occurrence of a Swap Counterparty Bankruptcy Credit Event, the Disposal Agent shall be required to verify that such event has occurred by checking “www.isda.org” or any such successor website of The International Swaps and Derivatives Association, Inc.
If such notice is delivered by one or more Noteholders and the Disposal Agent makes such verification, any Liquidation Commencement Notice delivered by the Issuer shall not be valid and the Disposal Agent shall not take any action in relation thereto if the Disposal Agent has already received a valid Liquidation Commencement Notice in respect of the same or a prior Liquidation Event or a valid Enforcement Notice from the Trustee.
Upon the effective delivery of a valid Liquidation Commencement Notice to the Disposal Agent, the Security will automatically be released without further action on the part of the Trustee to the extent necessary to effect any Liquidation (as defined in Master Condition 13 (Liquidation)) of the relevant Mortgaged Property, provided that nothing in this Clause 5.3 will operate to release the charges and other security interests over the proceeds of the Liquidation of the Mortgaged Property.
Notwithstanding the above, following the effective delivery of a valid Liquidation Commencement Notice to the Disposal Agent (copied to each of the other Transaction Parties), the Disposal Agent on behalf of the Issuer shall have the right to undertake any action as contemplated by the Conditions and the Agency Agreement as it considers appropriate, and any actions in furtherance thereof or ancillary thereto as they relate to the Mortgaged Property, without requiring any sanction referred to therein.
Upon the effective delivery of a valid Liquidation Commencement Notice to the Disposal Agent, the Security will automatically be released without further action on the part of the Trustee to the extent necessary to effect any Liquidation (as defined in Master Condition 13 (Liquidation)) of the relevant Mortgaged Property, provided that nothing in this Clause 5.4 will operate to release the charges and other security interests over the proceeds of the Liquidation of the Mortgaged Property.
Upon the effective delivery of a valid Liquidation Commencement Notice to the Disposal Agent, the Security will automatically be released without further action on the part of the Trustee to the extent necessary to effect any Liquidation (as defined in Master Condition 13 (Liquidation)) of the relevant Mortgaged Property, provided that nothing in this Clause5.3 will operate to release the charges and other security interests over the proceeds of the Liquidation of the Mortgaged Property.