Common use of Clause 19 Clause in Contracts

Clause 19. 6.1 shall not apply to: (a) any winding-up petition which is frivolous or vexatious and is discharged, stayed or dismissed either (a) within 10 (ten) days of commencement or, if earlier, the date on which it is advertised or (b) within such other period as agreed to in writing by the Lender on or before the lapse of the 10 (ten) day period referred to in (a) provided, for the avoidance of doubt, the Lender is not obliged to agree to any such extended period; (b) any step or procedure contemplated by paragraph (b) of the definition of Permitted Transaction in the Senior Facilities Agreement; or (c) any enforcement of any Security over any assets of the Borrower or any member of the Borrower Group as contemplated by clause 19.6.1(d) above, if the relevant Obligor or any member of the Borrower Group, as applicable, takes steps to oppose such legal proceedings within the time frames allowed by the Rules of Court and before any final order is granted and provides evidence to the reasonable satisfaction of the Lender that its opposition of such enforcement proceedings has merit.