Permitted Enforcement Action definition

Permitted Enforcement Action means any action of any kind:
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Permitted Enforcement Action means the cancellation of any commitments by a Subordinated Creditor following the occurrence of an Event of Default and/or the giving of any notice by a Subordinated Creditor to the Note Parties of a failure to pay any amount due and payable at final maturity or that any Subordinated Debt is prematurely due and payable or payable on demand.
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Permitted Enforcement Action means, with respect to actions of each Subordinated Indebtedness Secured Party, (i) filing of a claim or statement of interest with respect to the Subordinated Indebtedness; provided that an Insolvency Proceeding has been commenced by or against the Issuer or any Subsidiary Guarantor; (ii) taking any action in order to create, perfect, preserve or protect its Lien on the Collateral; provided, that no such action is, or could reasonably be expected to be, inconsistent with the terms of this Agreement, including, without limitation, the automatic release of the Liens of the Subordinated Lien Collateral Agent provided for in Section 5.3(a); (iii) filing any necessary responsive or defensive pleadings in opposition to any motion, claim, adversary proceeding or other pleading made by any person objecting to or otherwise seeking the disallowance of the claims of the Subordinated Indebtedness Secured Parties, including any claims secured by the Collateral, if any, in each case, to the extent not inconsistent with the terms of this Agreement; (iv) voting on any plan of reorganization, filing any proof of claim, making other filings and making any arguments and motions with respect to the Subordinated Indebtedness and the Collateral, in each case, to the extent not inconsistent with the terms of this Agreement; (v) filing any pleadings, objections, motions or agreements which assert rights or interests available to unsecured creditors of any Subsidiary Guarantor arising under either any Insolvency Proceeding or applicable non-bankruptcy law, in each case, to the extent consistent with the terms of this Agreement; and (vi) exercising any of its rights or remedies with respect to the Collateral after the termination of the Standstill Period to the extent permitted by Section 4.2(b).
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Examples of Permitted Enforcement Action in a sentence

  • The taking of Permitted Enforcement Action by the Note Trustee shall trigger an automatic acceleration of the Secured Liabilities.

  • Whilst the Note Trustee’s rights to take any action to enforce its rights against the Issuer and/or the Guarantor following an Event of Default are partially restricted under the Intercreditor Agreement, the taking of Permitted Enforcement Action by the Note Trustee is not restricted.

  • No Credit Facility Creditor or Notes Creditor may take any Enforcement Action (other than a Permitted Enforcement Action) without the prior written consent of the Relevant Secured Creditor Groups other than in accordance with Clause 8 (Enforcement of Transaction Security).

  • As a result, if there is an event of default under the terms of the Existing Notes, the Existing Noteholders may take ICA Permitted Enforcement Action under the Existing Intercreditor Agreement.

  • The taking of ICA Permitted Enforcement Action by the Note Trustee shall trigger an automatic acceleration of the Secured Liabilities (as defined in the Existing Intercreditor Agreement).

  • Subject to Clauses 5.3 (Permitted Enforcement Action by the Hedging Banks) and save as provided in Clause 7 (Enforcement of Security) in relation to the Majority Banks, no Hedging Bank may take Enforcement Action in relation to Hedging Indebtedness owed to them.

  • The taking of Permitted Enforcement Action by the Note Trustee or a U.S. PP Noteholder shall trigger an automatic acceleration of the Secured Liabilities.

  • The amount of the Interest Deficit relating to the Loans shall be treated as a prepayment premium (to the extent permitted by law) and paid in full at the time of any optional prepayment by the Borrower to the applicable Lenders of all the applicable Loans at that time outstanding pursuant to Section 2.10.

  • Such request shall be made in private and neither Vxxxxxx nor any Affiliate shall directly or indirectly announce an intention to, make any public filing or enter into any discussion, negotiations, arrangements or understandings with respect to any such waiver.

  • Whilst the Note Trustee’s rights to take any action to enforce its rights against the Issuer and/or the Guarantors following an Event of Default are partially restricted under the Existing Intercreditor Agreement, the taking of ICA Permitted Enforcement Action by the Note Trustee is not restricted.


More Definitions of Permitted Enforcement Action

Permitted Enforcement Action means any Remedial Action taken by the BH Senior Lenders with respect to the BH Collateral only.
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Permitted Enforcement Action means any Remedial Action taken by the BH Senior Agent and/or any BH Senior Lenders solely with respect to BH First Priority Collateral or any BH Guarantor that then owns any interest in any BH First Priority Collateral.
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Permitted Enforcement Action means (a) any enforcement, collection or similar proceeding with respect to Borrower or any other Company or the exercise of any remedy (including, without limitation, the institution of suit and the enforcement of any judgment) undertaken by a Subordinated Lender to enforce the Subordinated Lender Obligations owing to it, other than any enforcement, collection or similar proceeding with respect to the Subordinated Lender Collateral, or (b) the commencement by the Collateral Agent, acting at the direction of the Required Existing Banks or the Majority Noteholders to enforce the Subordinated Lender Liens.
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Permitted Enforcement Action means (a) the acceptance by any Subordinated Creditor of cash payments of interest to the extent that the same is permitted by subsection 2.3(a)(ii) hereof, (b) the filing of a lawsuit for payment of, or initiating or participating with others in any suit, action or proceeding against any Debtor to (i) enforce payment of or to collect the whole or any part of the Subordinated Debt or (ii) commence judicial enforcement of any of the rights and remedies under the Subordinated Debt Documents or applicable law with respect to the Subordinated Debt or (c) the acceleration of the Subordinated Debt.
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Related to Permitted Enforcement Action

  • law enforcement means the prevention, detection or investigation of terrorist offences or other serious criminal offences;

  • 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.

  • Law enforcement unit means an individual office, department, division, or other component of an education agency or institution that is officially authorized or designated by that agency or institution to (1) enforce laws or refer matters of law enforcement to appropriate authorities, or (2) maintain the physical security and safety of the agency or institution.

  • Compliance Enforcement Authority means NERC or the Regional Entity, or any entity as otherwise designated by an Applicable Governmental Authority, in their respective roles of monitoring and/or enforcing compliance with mandatory and enforceable Reliability Standards in their respective jurisdictions.

  • Support enforcement agency means a public official or agency authorized to seek:

  • Law enforcement agency means the same as that term is defined in Section 53-1-102.

  • Local law enforcement agency means the police of a city, town, village or other incorporated area or the sheriff of an unincorporated area or any sworn officer of the Illinois Department of State Police.

  • Legitimate law enforcement purpose means a goal within the lawful authority of an officer that is to be achieved through methods or conduct condoned by the officer’s appointing authority.

  • Second Priority Obligations means (a) with respect to the Existing Second Priority Agreement, all “Secured Obligations” of each Loan Party as defined in the “Security Agreement” referred to in the Existing Second Priority Agreement and (b) with respect to each other Second Priority Agreement, (i) all principal of and interest (including without limitation any Post-Petition Interest) and premium (if any) on all indebtedness under such Second Priority Agreement, and (ii) all guarantee obligations, fees, expenses and other amounts payable from time to time pursuant to the applicable Second Priority Documents, in each case whether or not allowed or allowable in an Insolvency Proceeding. To the extent any payment with respect to any Second Priority Obligation (whether by or on behalf of any Loan Party, as proceeds of security, enforcement of any right of setoff or otherwise) is declared to be a fraudulent conveyance or a preference in any respect, set aside or required to be paid to a debtor in possession, any First Priority Secured Party, receiver or similar Person, then the obligation or part thereof originally intended to be satisfied shall, for the purposes of this Agreement and the rights and obligations of the First Priority Secured Parties and the Second Priority Secured Parties hereunder, be deemed to be reinstated and outstanding as if such payment had not occurred.

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

  • First Priority Obligations means (a) with respect to the Existing First Priority Agreement, all “Obligations” of each Loan Party as defined in the Existing First Priority Agreement and (b) with respect to each other First Priority Agreement, all “Obligations” of each Loan Party as defined in such First Priority Agreement, and shall in any event include (i) all principal of and interest (including without limitation any Post-Petition Interest) and premium (if any) on all loans made or other indebtedness issued or incurred pursuant to such First Priority Agreement, (ii) all reimbursement obligations (if any) and interest thereon (including without limitation any Post-Petition Interest) with respect to any letter of credit or similar instruments issued pursuant to such First Priority Agreement, (iii) all Specified Swap Agreements, (iv) all Specified Cash Management Agreements and (v) all guarantee obligations, fees, expenses and other amounts payable from time to time pursuant to the applicable First Priority Documents, in each case whether or not allowed or allowable in an Insolvency Proceeding. To the extent any payment with respect to any First Priority Obligation (whether by or on behalf of any Loan Party, as proceeds of security, enforcement of any right of setoff or otherwise) is declared to be a fraudulent conveyance or a preference in any respect, set aside or required to be paid to a debtor in possession, any Second Priority Secured Party, receiver or similar Person, then the obligation or part thereof originally intended to be satisfied shall, for the purposes of this Agreement and the rights and obligations of the First Priority Secured Parties and the Second Priority Secured Parties, be deemed to be reinstated and outstanding as if such payment had not occurred.

  • Trust Enforcement Event in respect of the Securities means an Indenture Event of Default has occurred and is continuing in respect of the Debentures.

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

  • Civil Enforcement Officer means a person authorised by or on behalf of Lancashire County Council in accordance with Section 76 of the Traffic Management Act 2004;

  • Term Obligations shall have the meaning assigned that term in the Intercreditor Agreement.

  • Senior Collateral Documents means the Security Agreement and the other “Collateral Documents” as defined in the Credit Agreement, the First Lien Intercreditor Agreement (upon and after the initial execution and delivery thereof by the initial parties thereto) and each of the collateral agreements, security agreements and other instruments and documents executed and delivered by the Borrower or any other Grantor for purposes of providing collateral security for any Senior Obligation.

  • Law enforcement officer means any officer authorized to direct or regulate traffic or to make

  • Code enforcement officer means the Code Enforcement Officer appointed pursuant to subdivision (b) of section 3 of this local law.

  • Second Priority Collateral Documents means the Initial Second Priority Collateral Documents and each of the collateral agreements, security agreements and other instruments and documents executed and delivered by the Borrower or any Grantor for purposes of providing collateral security for any Second Priority Debt Obligation.

  • Second Priority Collateral means any “Collateral” as defined in any Second Priority Debt Document or any other assets of the Borrower or any other Grantor with respect to which a Lien is granted or purported to be granted pursuant to a Second Priority Collateral Document as security for any Second Priority Debt Obligation.

  • Senior Collateral means any “Collateral” as defined in any Credit Agreement Loan Document or any other Senior Debt Document or any other assets of the Company or any other Grantor with respect to which a Lien is granted or purported to be granted pursuant to a Senior Collateral Document as security for any Senior Obligations.

  • Bylaw Enforcement Officer means a person or persons appointed from time to time by resolution of City Council pursuant to Section 36 of the Police Act, the purpose of which is to enforce regulatory bylaws of the municipality.

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

  • Discharge of Priority Lien Obligations means the occurrence of all of the following:

  • Drug enforcement administration means the drug enforcement

  • DIP Obligations means “DIP Obligations” as defined in the DIP Order.