ENFORCEMENT OF THE PLEDGE. 6.1 If (i) an Enforcement Event has occurred and is continuing and (ii) the requirements set forth in Sections 1273 para 2, 1204 et seq. of the German Civil Code with regard to the enforcement of the Pledges are met (Pfandreife), in particular, if any of the Obligations have become due and payable, then in order to enforce the Pledges, the Collateral Agent (acting on the instructions of the Secured Parties) may at any time thereafter avail itself of all rights and remedies that a pledgee has against a pledgor under the laws of the Federal Republic of Germany.
ENFORCEMENT OF THE PLEDGE. (a) No act has been taken and no circumstances exist that are capable of limiting or preventing the Pledgee from exercising or enforcing its rights under this Agreement or enforcing the Pledge or restricting the scope of such rights.
ENFORCEMENT OF THE PLEDGE. (1) In the event that the Pledgor fails to perform the Secured Obligations, the Pledgee may enforce the Pledge upon the Pledged Shares in accordance with this Agreement and applicable Laws.
ENFORCEMENT OF THE PLEDGE. 8.1 Before the obligations under the Transaction Documents are fully performed, the Pledgors shall not transfer their Equity in Party C without written consent of the Pledgee.
ENFORCEMENT OF THE PLEDGE. (a) Upon the occurrence of an Event of Default and in accordance with Clause 5.3 above, the Pledgee shall be entitled to enforce the Pledge immediately, in its absolute discretion and exercise any right under (i) applicable law (including, without limitation, article 11 of the Collateral Act 2005) or (ii) this Pledge Agreement, and to enforce all or any part of the Pledge in respect of the PECs in any manner it sees fit. The Pledgee shall in particular be entitled to:
ENFORCEMENT OF THE PLEDGE. 7.1 If the obligations that the Pledgor owes with respect to any of the Secured Receivables become due or immediately payable, the Pledgees may enforce the Floating Pledges in accordance with any of the following methods. In such case, each Pledgee may enforce the Floating Pledges only through the Agent by times, methods and terms determined in accordance with the decision-making of the Majority Lenders under Clause 2 of the Creditors’ Agreement, and the Agent shall enforce the Floating Pledges on behalf of each Pledgee. The Agent shall, in enforcing the Floating Pledges, notify the Trustee, Pledgor and each Pledgee in writing of the enforcement of the Floating Pledges under this Agreement (the “Floating Pledge Enforcement Notice”).
ENFORCEMENT OF THE PLEDGE. 11.1 The Pledgor accepts that at any time after the occurrence of an Enforcement Event or of a Bonding Facility Enforcement Event and the Security Trustee (acting on instructions received pursuant to the terms of the Security Trust and Intercreditor Deed) giving notice to the Issuer thereof and after five days from service of notice to the Pledgor in accordance with Article 2797, first paragraph, of the Italian Civil Code, the Security Trustee is authorised, in its absolute discretion, upon the terms and conditions set out under Clause 10 (Action and Enforcement Action) of the Security Trustee and Intercreditor Deed, to enforce the Transaction Security and therefore to sell the Pledged Shares in whole or in part, and in one or more stages, pursuant to Article 2797, last paragraph, of the Italian Civil Code. The Security Trustee, on behalf of the Secured Creditors, may also, in its absolute discretion, appoint a different credit institution to arrange the sale, or a financial brokerage company or any other specialised operator in the securities market, or proceed directly to a sale to third parties. A report of the terms of the sale effected as per above must however be delivered to the Pledgor.
ENFORCEMENT OF THE PLEDGE. 8.1. Subject to the terms of the Interim Facilities Agreement, upon the occurrence of a Declared Default which is continuing, the Pledgee shall be entitled, without any further notice (other than the notice in the form attached in Schedule 3 or Schedule 5), to exercise immediately its rights and powers under this Agreement and the applicable provisions of Luxembourg law, including (but not limited to):
ENFORCEMENT OF THE PLEDGE. 8.1 If Party A enforces the Pledge due to the Pledgors’ breach of agreement, Party A shall send a Default Notice to the Pledgors.
ENFORCEMENT OF THE PLEDGE. 8.1 The Pledgee shall give Default Notice to the Pledgors pursuant to Section 7.3 hereof upon enforcing the Pledge.
