Enforcement Instructions Sample Clauses
The Enforcement Instructions clause outlines the procedures and guidelines for implementing and carrying out the terms of an agreement, particularly in situations where compliance or corrective action is required. This clause typically details who is responsible for enforcement, the steps to be taken in the event of a breach, and any timelines or documentation needed to support enforcement actions. By providing a clear framework for how contractual obligations will be enforced, this clause helps ensure that all parties understand their responsibilities and the consequences of non-compliance, thereby reducing ambiguity and potential disputes.
Enforcement Instructions. (a) Subject to Clause 12.2(b) (Enforcement of Hedging Security Documents) the Security Agent may refrain from enforcing the security conferred by the Security Documents and Note Security Documents unless and until instructed by an Enforcement Instructing Group.
(b) Subject to such security having become enforceable, an Enforcement Instructing Group may give or refrain from giving instructions to the Security Agent to enforce or refrain from enforcing the security conferred by the Security Documents and the Note Security Documents as they see fit.
(c) None of the Secured Parties shall have any independent right to enforce any of the Security Documents or Note Security Documents or to instruct or require the Security Agent to enforce any of the Security Documents or Note Security Documents or give any notice, withdraw any consent or take any other action under any of the Security Documents or Note Security Documents or crystallize any floating charge, except as part of an Enforcement Instructing Group (or in the case of the Hedging Banks save as provided for in Clause 12.2 (Enforcement of Hedging Security Documents) below).
(d) Any instructions given to the Security Agent by an Enforcement Instructing Group (and which are within the powers of an Enforcement Instructing Group) will override any conflicting instructions given by any other party. The Security Agent will be fully protected in complying with the instructions of an Enforcement Instructing Group.
(e) Any such instructions by an Enforcement Instructing Group (and which are within the powers of an Enforcement Instructing Group) shall be binding on all the Secured Parties.
(f) For the purpose of calculating an Enforcement Instructing Group or determining whether or not an instruction has been given under this Deed by an Enforcement Instructing Group the Security Agent may rely:
(i) On a certificate from the Senior Agent as to the share in the Senior Secured Debt of any Senior Creditors voting in favour of any particular instruction or request and as to the amount of the outstanding Senior Secured Debt; and
(ii) On a certificate from a Hedging Bank as to the amount of outstanding Hedging Debt (calculated in accordance with Schedule 6 (Calculation of Hedging Debt)) held by such Hedging Bank and whether such Hedging Bank is voting in favour of any particular instruction or request. The Security Agent shall not incur any liability in relying on any such certificate or certificates.
(g) The Security Agent ...
Enforcement Instructions. The Security Agent may refrain from enforcing the Transaction Security unless instructed otherwise by:
Enforcement Instructions. (a) The Security Agent may refrain from enforcing the Transaction Security unless instructed in writing otherwise by the Agent.
(b) Subject to the Transaction Security having become enforceable in accordance with its terms, the Agent may give or refrain from giving instructions to the Security Agent to enforce or refrain from enforcing the Transaction Security as they see fit.
(c) The Security Agent is entitled to rely on and comply with written instructions given in accordance with this Clause 32.1.
Enforcement Instructions. (a) The Security Agent may refrain from enforcing the Transaction Security unless instructed otherwise by the Majority Lenders.
(b) Subject to the Transaction Security having become enforceable in accordance with its terms the Majority Lenders may give or refrain from giving instructions to the Security Agent to enforce or refrain from enforcing the Transaction Security as they see fit.
(c) The Security Agent is entitled to rely on and comply with instructions given in accordance with this Clause 27.1.
Enforcement Instructions. (a) The Common Security Agent may refrain from enforcing the Transaction Security or taking any other action as to Enforcement unless instructed otherwise by the Intercreditor Agent and the Intercreditor Agent may refrain from delivering such instructions to the Common Security Agent or taking any other action as to Enforcement unless instructed otherwise by the Instructing Group in accordance with Clause 15.2 (Instructions to enforce).
(b) Subject to Clause 15.2 (Instructions to enforce), the applicable Instructing Group may deliver or refrain from delivering instructions to the Intercreditor Agent directing the Common Security Agent to take action as to Enforcement in accordance with the Enforcement Principles as they see fit by way of the issuance of Enforcement Instructions.
(c) The Intercreditor Agent and the Common Security Agent are entitled to rely on and comply with instructions given in accordance with this Clause 15.3.
Enforcement Instructions. (a) The Security Agent may refrain from enforcing any Transaction Security unless:
(i) (in the case of enforcement of all or any part of the Class A Transaction Security (as defined in the Intercreditor Agreement)) instructed otherwise by the Security Instructing Creditors in respect of the Class A Transaction Security; or
(ii) (in the case of enforcement of all or any part of the Class B Transaction Security (as defined in the Intercreditor Agreement)) instructed otherwise by the Security Instructing Creditors in respect of the Class B Transaction Security.
(b) Subject to any Transaction Security having become enforceable in accordance with its terms:
(i) (in the case of any Class A Transaction Security) the Security Instructing Creditors in respect of the Class A Transaction Security may give or refrain from giving instructions to the Security Agent to enforce or refrain from enforcing the Class A Transaction Security as they see fit; or
(ii) (in the case of any Class B Transaction Security) the Security Instructing Creditors in respect of the Class B Transaction Security may give or refrain from giving instructions to the Security Agent to enforce or refrain from enforcing the Class B Transaction Security as they see fit.
Enforcement Instructions. (a) Following an Enforcement Event, the Security Agent shall not take any Enforcement Action against the Transaction Security unless expressly instructed to do so in writing by the Instructing Group.
(b) Following an Enforcement Event, the Security Agent may instruct the Mexican Security Trustee to take Enforcement Action only in accordance with the terms of the Mexican Security Trust Agreement.
(c) Subject to the Transaction Security having become enforceable in accordance with Clause 6.1 (Enforcement Event) above, the Instructing Group may give or refrain from giving instructions to the Security Agent to enforce or refrain from enforcing the Transaction Security as they see fit and:
(i) no other Secured Party shall have a right to request the enforcement of the Transaction Security; and
(ii) if the Instructing Group determines to enforce the Transaction Security, it shall direct the Security Agent (in writing) as to the method of enforcement it may pursue in enforcing the Transaction Security, as to whether all or part of the Transaction Security is to be enforced and give all other directions in respect of the enforcement of the Transaction Security as the Instructing Group sees fit.
(d) Having received such directions referred to in sub-paragraph (c)(ii) above as to the method of enforcement and the identity of the Transaction Security to be enforced (and in the absence of further written instructions from the Instructing Group), the Security Agent may act as it sees fit (including, without limitation, the selection of any administrator of any Debtor or Security Provider to be appointed by the Security Agent) and in accordance with applicable law and pursuant to the specific terms of the relevant Transaction Security Documents.
(e) The Security Agent is entitled to conclusively rely on and comply with instructions given in accordance with this Clause 6.2 (Enforcement instructions).
Enforcement Instructions. (a) Prior to the ECF Discharge Date, each of the Collateral Agent and the Delegate Collateral Agent may refrain from enforcing the Shared Security unless instructed otherwise by the ECF Required Lenders.
(b) After the ECF Discharge Date, the Collateral Agent and the Delegate Collateral Agent may refrain from enforcing the Shared Security unless instructed otherwise by the Term Loan Required Lenders.
(c) Prior to the ECF Discharge Date, subject to the Shared Security having become enforceable in accordance with its terms, the ECF Required Lenders may give or refrain from giving instructions to the Collateral Agent to enforce or refrain from enforcing all or any part of the Shared Security as they see fit.
(d) After the ECF Discharge Date, subject to the Shared Security having become enforceable in accordance with its terms, the Term Loan Required Lenders may give or refrain from giving instructions to the Collateral Agent to enforce or refrain from enforcing all or any part of the Shared Security as they see fit.
(e) Each of the Collateral Agent and the Delegate Collateral Agent are entitled to rely on and comply with instructions given in accordance with this Clause 5.1 (Enforcement instructions).
Enforcement Instructions. Until the Discharge Date, the Security Agent shall:
Enforcement Instructions. (a) The Security Agent may refrain from enforcing the Transaction Security or instructing the Secondary Security Agent to enforce any Transaction Security held by the Secondary Security Agent unless instructed otherwise by the Majority Lenders.
(b) The Secondary Security Agent may refrain from enforcing the Transaction Security unless instructed otherwise by the Security Agent.
(c) Subject to the Transaction Security having become enforceable in accordance with its terms, the Majority Lenders may give or refrain from giving instructions to the Security Agent (i) to enforce or refrain from enforcing the Transaction Security as they see fit and/or (ii) instruct the Secondary Security Agent to enforce or refrain from enforcing any Transaction Security held by the Secondary Security Agent.
(d) The Security Agent and the Secondary Security Agent is entitled to rely on and comply with instructions given in accordance with this Clause 31.1 (Enforcement instructions).