After an Enforcement Event Clause Samples

The 'After an Enforcement Event' clause outlines the rights and obligations of parties following the occurrence of a significant breach or default, often referred to as an enforcement event. Typically, this clause details the steps that must be taken once such an event has occurred, such as the acceleration of payments, the right to seize collateral, or the initiation of legal proceedings. For example, if a borrower defaults on a loan, the lender may be entitled to demand immediate repayment or enforce security interests. The core function of this clause is to provide a clear framework for resolving breaches, thereby protecting the interests of the non-defaulting party and ensuring an orderly process for enforcement.
After an Enforcement Event. The Pledgor undertakes, at any time after an Enforcement Event has occurred and at any time as long as such event shall be continuing, that all Income shall be retained in the relevant Pledged Securities Accounts for the account of the Pledgee and shall remain subject to the Security Interests. If the Pledgor nevertheless receives any Income, the Pledgor shall be deemed to hold such Income as agent on behalf of the Pledgee and shall transfer such Income to the relevant Pledged Securities Account and thus such Income shall fall within the scope of the pledge referred to in Clause 2.1.
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After an Enforcement Event. The Pledgor [(and, if the Clearing Agent is acting as ▇▇▇▇▇▇▇’s Representative, the Clearing Agent, each)] [(and, if the Third-Party Account Holder is acting as Pledgor’s Representative, the Third-Party Account Holder, each)] undertakes, at any time after an Enforcement Event has occurred and at any time as long as such event shall be continuing, that all Income shall be retained in the relevant Pledged Securities Accounts for the account of the Pledgee and shall remain subject to the Security Interests. If the Pledgor [(or if the Clearing Agent is acting as ▇▇▇▇▇▇▇’s Representative, the Clearing Agent, acting on behalf of the Pledgor)] [(or if Third-Party Account Holder is acting as Pledgor’s Representative, the Third-Party Account Holder, acting on behalf of the Pledgor)] nevertheless receives any Income, the Pledgor [(and if the Clearing Agent is acting as ▇▇▇▇▇▇▇’s Representative, the Clearing Agent, acting on behalf of the Pledgor)] [(and if the Third-Party Account Holder is acting as Pledgor’s Representative, the Third- Party Account Holder, acting on behalf of the Pledgor)] shall be deemed to hold such Income as agent on behalf of the Pledgee and shall transfer such Income to the relevant Pledged Securities Account and thus such Income shall fall within the scope of the pledge referred to in Clause 2.1.
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After an Enforcement Event. The Security Agent may, upon the occurrence of an Enforcement Event, at its discretion (in the name of the Chargor or otherwise, and without any further consent or authority from the Chargor): 7.2.1 exercise (or refrain from exercising) any voting rights in respect of the Shares; 7.2.2 apply all dividends, interest and other monies arising from the Shares in accordance with Clause 13 (Application of Moneys); 7.2.3 transfer the Shares into the name of such nominee(s) of the Security Agent as it shall require; and 7.2.4 exercise (or refrain from exercising) the powers and rights conferred on or exercisable by the legal or beneficial owner of the Shares, including the right to concur or participate in: (a) the reconstruction, amalgamation, sale or other disposal of the Company or any of its assets or undertaking (including the exchange, conversion or reissue of any shares or securities as a consequence of such event); (b) the release, modification or variation of any rights or liabilities attaching to such shares or securities; and (c) the exercise, renunciation or assignment of any right to subscribe for any shares or securities, in each case in such manner and on such terms as the Security Agent may think fit, and the proceeds of any such action shall form part of the Charged Property.
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After an Enforcement Event. The Interim Security Agent may, at its discretion, whilst an Enforcement Event is continuing (in the name of the Grantor or otherwise and without any further consent or authority from the Grantor): 9.2.1 exercise (or refrain from exercising) or direct the exercise of any voting rights in respect of any Securities; 9.2.2 apply all payments, interest and other monies arising from any Securities in accordance with the Interim Documents; 9.2.3 transfer any Securities into the name of such nominee(s) of the Interim Security Agent as it shall require; and 9.2.4 exercise (or refrain from exercising) the powers and rights conferred on or exercisable by the legal or beneficial owner of any Securities, in such manner and on such terms as the Interim Security Agent may think fit, and the proceeds of any such action shall form part of the Collateral.
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After an Enforcement Event. The Secured Party may, at its discretion, whilst an Enforcement Event is continuing (in the name of the Grantor or otherwise and without any further consent or authority from the Grantor): 9.3.1 exercise (or refrain from exercising) any Loan Agreement Contract Rights; and 9.3.2 apply all Loan Agreement Receivables, , in such manner and on such terms as the Secured Party may think fit, and the proceeds of any such action shall form part of the Collateral.
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After an Enforcement Event. The Interim Security Agent may, at its discretion, whilst an Enforcement Event is continuing (in the name of the Grantor or otherwise and without any further consent or authority from the Grantor): 10.3.1 exercise (or refrain from exercising) any Contract Rights; and 10.3.2 apply all Contract Receivables in accordance with the Interim Documents, in such manner and on such terms as the Interim Security Agent may think fit, and the proceeds of any such action shall form part of the Collateral.
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After an Enforcement Event. The Secured Party may, at its discretion, whilst an Enforcement Event is continuing (in the name of the Grantor or otherwise and without any further consent or authority from the Grantor): 8.2.1 exercise (or refrain from exercising) or direct the exercise of any voting rights in respect of any Securities; 8.2.2 apply all dividends, interest and other monies arising from any Securities; 8.2.3 transfer any Securities into the name of such nominee(s) of the Secured Party as it shall require; and 8.2.4 exercise (or refrain from exercising) the powers and rights conferred on or exercisable by the legal or beneficial owner of any Securities, in such manner and on such terms as the Secured Party may think fit, and the proceeds of any such action shall form part of the Collateral.
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After an Enforcement Event. (i) Proceeds of the Security Interests from the Facility and/or the Additional Facility are applied towards the obligations under the Facility and the Additional Facility on a pro rata and pari passu basis; (ii) Any income received other than from the realisation of Security Interests, such as Earnings are applied towards the obligations under the Facility and the Additional Facility on a pro rata and pari passu basis; and (iii) Decisions are taken by the relevant quota of the Facility Lenders and the lenders in the Additional Facility.
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Related to After an Enforcement Event

  • Not to Prevent Events of Default The failure to make a payment on account of the principal of or interest on the Securities by reason of any provision in this Article 5 shall not be construed as preventing the occurrence of an Event of Default under Section 8.1.

  • Actions following an Event of Default On, or at any time after, the occurrence and during the continuation of an Event of Default: (a) the Agent may, and if so instructed by the Majority Lenders, the Agent shall: (i) serve on the Borrowers a notice stating that all or part of the Commitments and of the other obligations of each Lender to the Borrowers under this Agreement are cancelled; and/or (ii) serve on the Borrowers a notice stating that all or part of the Loan together with accrued interest and all other amounts accrued or owing under this Agreement are immediately due and payable or are due and payable on demand; and/or (iii) take any other action which, as a result of the Event of Default or any notice served under paragraph (i) or (ii), the Agent and/or the Lenders are entitled to take under any Finance Document or any applicable law; and/or (b) the Security Trustee may, and if so instructed by the Agent, acting with the authorisation of the Majority Lenders, the Security Trustee shall take any action which, as a result of the Event of Default or any notice served under paragraph (a)(i) or (a)(ii), the Security Trustee, the Agent and/or the Lenders and/or the Swap Counterparties are entitled to take under any Finance Document or any applicable law.

  • Not To Prevent Events of Default or Limit Right To Accelerate The failure to make a payment pursuant to the Securities by reason of any provision in this Article 10 shall not be construed as preventing the occurrence of a Default. Nothing in this Article 10 shall have any effect on the right of the Securityholders or the Trustee to accelerate the maturity of the Securities.

  • Subsequent Events If, at any time on or after an Applicable Time but prior to the related Settlement Date, any event occurs as a result of which the Registration Statement or Prospectus would include any untrue statement of a material fact or omit to state any material fact necessary to make the statements therein in the light of the circumstances under which they were made or the circumstances then prevailing not misleading, the Company will (i) notify promptly the Manager so that any use of the Registration Statement or Prospectus may cease until such are amended or supplemented; (ii) amend or supplement the Registration Statement or Prospectus to correct such statement or omission; and (iii) supply any amendment or supplement to the Manager in such quantities as the Manager may reasonably request.

  • Remedies Upon an Event of Default (a) Upon the occurrence of any Event of Default that has not been remedied within (i) two (2) Business Days for an Event of Default occurring by the Company’s failure to comply with Section 7.1(c) of the Purchase Agreement or Section 4.2 of this Note, or (ii) ten (10) Business Days for all other Events of Default, provided, however, that there shall be no cure period for an Event of Default described in Section 2.1(i), 2.1(j) or 2.1(k), the Maker shall be obligated to pay to the Holder the Mandatory Default Amount, which Mandatory Default Amount shall be earned by the Holder on the date the Event of Default giving rise thereto occurs and shall be due and payable on the earlier to occur of the Maturity Date, upon conversion, redemption or prepayment of this Note or the date on which all amounts owing hereunder have been accelerated in accordance with the terms hereof. (b) Upon the occurrence of any Event of Default, if any Investor alleges in writing a claim of breach, the Maker shall, as promptly as possible but in any event within one (1) Business Day of receipt of such claim, furnish a copy of such claim to the Holder and notify the Holder the Maker’s response thereto. Thereafter, if the Requisite Holders join with the initiating noteholder, then the Requisite Holders shall select a noteholder representative (the “Representative”) to represent their interests hereunder and under the other Transaction Documents. The Representative shall thereafter be able to act on behalf of the holders of the Notes and pursue remedies under the Notes and the other Transaction Documents, amend or waive the Notes and the other Transaction Documents or otherwise act on behalf of the holders of the Notes hereunder and thereunder. (c) If an Event of Default shall have occurred and shall not have been remedied within (i) two (2) Business Days for an Event of Default occurring by the Company’s failure to comply with Section 7.1(c) of the Purchase Agreement or Section 4.2 of this Note, or (ii) ten (10) Business Days for all other Events of Default, provided, however, that there shall be no cure period for an Event of Default described in Section 2.1(i), 2.1(j) or 2.1(k), the Holder may at any time at its option declare the Mandatory Default Amount due and payable, and thereupon, the same shall be accelerated and so due and payable, without presentment, demand, protest, or notice, all of which are hereby expressly unconditionally and irrevocably waived by the Maker; provided, further, however, that (x) upon the occurrence of an Event of Default described above, the Holder, in its sole and absolute discretion, may: (a) from time-to-time demand that all or a portion of the Outstanding Principal Amount be converted into shares of Common Stock at the then-current Conversion Price; or (b) exercise or otherwise enforce any one or more of the Holder’s rights, powers, privileges, remedies and interests under this Note, the Purchase Agreement, the other Transaction Documents or applicable law and (y) upon the occurrence of an Event of Default described in clauses (k) or (l) above, the Mandatory Default Amount shall become immediately due and payable without presentment, demand, protest or other notice of any kind, all of which are hereby waived by the Maker. No course of delay on the part of the Holder shall operate as a waiver thereof or otherwise prejudice the rights of the Holder. No remedy conferred hereby shall be exclusive of any other remedy referred to herein or now or hereafter available at law, in equity, by statute or otherwise.