Common use of Enforcement Powers Clause in Contracts

Enforcement Powers. 15.1.1 The power of sale and other powers conferred by section 101 of the LPA 1925 (as varied or extended by this deed) shall, as between the Lender and a purchaser from the Lender, arise on and be exercisable at any time after the execution or this deed, but the Lender shall not exercise such power of sale or other powers until the security constituted by this deed has become enforceable under clause 14.1 (Security Becomes Enforceable on Event of Default). 15.1.2 Section 103 of the LPA 1925 does not apply to the security constituted by this deed.

Enforcement Powers. 15.1.1 The power of sale and other powers conferred by section 101 of the LPA 1925 (as varied or extended by this deed) shall, as between the Lender and a purchaser from the Lender, arise on and be exercisable at any time after the execution or of this deed, but the Lender shall not exercise such power of sale or other powers until the security Security constituted by this deed has become enforceable under clause 14.1 (Security Becomes Enforceable on Event of Default). 15.1.2 Section 103 of the LPA 1925 does not apply to the security Security constituted by this deed.