Common use of Enforcement Event Clause in Contracts

Enforcement Event. 5.1 Without prejudice and in addition to any of the rights of the Collateral Agent under the Law, (after the occurrence of an Enforcement Event which is continuing) if an Enforcement Event has occurred and is continuing, the Collateral Agent may (upon the instruction of the Applicable Representative) enforce the security granted by this Agreement, following delivery of the required notice under the Law. 5.2 If an Enforcement Event has occurred and is continuing and provided the Collateral Agent has served notice in accordance with Clause 5.1, the Grantor authorises and instructs the Collateral Agent to deal with the Collateral in its own discretion as it sees fit in accordance with the Intercreditor Arrangements without any reference to or further authority from the Grantor and without any enquiry by the Grantor as to the justification for the Collateral Agent’s actions.

Enforcement Event. 5.1 Without prejudice and in addition to any of the rights of the Collateral Agent under the Law, Law (after the occurrence of an Enforcement Event which is continuing) ), if an Enforcement Event has occurred and is continuing, the Collateral Agent may (upon the instruction of the Applicable Representative) enforce the security granted by this Agreement, following delivery of the required notice under the Law. 5.2 If an Enforcement Event has occurred and is continuing and provided the Collateral Agent has served notice in accordance with Clause 5.1, the Grantor authorises and instructs the Collateral Agent to deal with the Collateral in its own discretion as it sees fit in accordance with the Intercreditor Arrangements without any reference to or further authority from the Grantor and without any enquiry by the Grantor as to the justification for the Collateral Agent’s actions.