AMICABLE SALE Clause Samples
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AMICABLE SALE. Subject to the provisions of the Intercreditor Agreement and of this Agreement, in the event of default on the Secured Obligations, and if, according to the terms and conditions of the Intercreditor Agreement, the Creditors instruct the Collateral Agent to enforce the Pledge, the Collateral Agent, on behalf of Creditors and in accordance with the conditions and requirements of the Intercreditor Agreement, shall enforce the Pledge pursuant to the formalities set out in Clause 4.2. below and of the Intercreditor Agreement by selling the Pledged Shares to any third party, at sight and against cash payment, preferentially in a single block, and it is hereby entitled to exercise all the rights and perform all the acts contemplated in item IV of Article 1433 and in Article 1459 of the Civil Code and in paragraph 2 of Article 120 of Decree-law No. 7661 of June 21, 1945.
AMICABLE SALE. Subject to the provisions of the Intercreditor Agreement and this Agreement, if for any reason the NET Companies are proven to have failed to perform the Secured Obligations, and the Creditors, in accordance with the terms and conditions of the Intercreditor Agreement and this Agreement, instruct the Collateral Agent to enforce the Pledge, then the Collateral Agent shall, on behalf of the Creditors, in accordance with the terms and conditions of the Intercreditor Agreement, enforce the Pledge in keeping with the formalities set out in Clause 2.2. below and the Intercreditor Agreement, by selling the Pledged Assets to any third party, in cash, and may immediately exercise all such rights and perform all such acts as set out in Article 1433, IV and in Article 1459 of the Civil Code, as well as in Article 120, paragraph 2 of Decree-Law No. 7661 of June 21, 1945.