Security Enforcement Action has the meaning given in Schedule A of the CSAA.
Security Enforcement Action means the exercise by the Collateral Agent (or at its direction), following initiation of enforcement action in compliance with Section 6.2 (Initiation of Security Enforcement Action) and Section 6.3 (Conduct of Security Enforcement Action) of the Common Security and Account Agreement, of enforcement rights with respect to the Collateral and any of the other enforcement rights (including exercising step-in and other rights with respect to the Direct Agreements entered into pursuant to Section 3.4 (Direct Agreements) of the Common Security and Account Agreement) contemplated by the Common Security and Account Agreement, the other Security Documents and the Direct Agreements. For the avoidance of doubt, Security Enforcement Action shall not include any action taken by the Collateral Agent (or at its direction) in accordance with Section 6.1 (Collateral Agent Action Generally) of the Common Security and Account Agreement.
Security Enforcement Action means the taking of any steps to enforce or require the enforcement of any Transaction Security (including the crystallisation of any floating charge forming part of the Transaction Security) or any right or remedy under any Security Document.
Examples of Security Enforcement Action in a sentence
Nothing in this Article 16 (Common Remedies and Enforcement) shall limit or restrict any right of any Secured Party or the Collateral Agent pursuant to Section 6.3 (Conduct of Security Enforcement Action) of the Common Security and Account Agreement.
More Definitions of Security Enforcement Action
Security Enforcement Action means in relation to any Secured Party, any action whatsoever by such Secured Party to exercise or enforce any Security conferred on or for the benefit of it or any other Secured Party by the Security Documents on any asset of a Company, including without limitation any such action to: