Entitlement to give Enforcement Instruction Sample Clauses

Entitlement to give Enforcement Instruction. Subject to paragraph (d) below, the Required Second Priority Creditors shall solely be entitled to give instructions to the Pari Passu Security Agent with respect to Enforcement; provided that, if (i) the Required Second Priority Creditors fail to deliver Enforcement Instructions within 45 days of a Pari Passu Acceleration Event or (ii) the Required Second Priority Creditors, having given Enforcement Instructions, fail to make a determination as to the method of Enforcement they wish to instruct the Pari Passu Security Agent to pursue within 45 days of the date of delivery of any initial Enforcement Instructions from the Required Second Priority Creditors, then the Supra Majority Lenders shall be entitled to give instructions to the Pari Passu Security Agent with respect to Enforcement. Subject to paragraph (d) below, if (i) the Supra Majority Lenders fail to deliver Enforcement Instructions within 45 days of being entitled to give instructions to the Pari Passu Security with respect to Enforcement pursuant to the first sentence of this Section 3.04 or (ii) the Supra Majority Lenders, having given Enforcement Instructions, fail to make a determination as to the method of Enforcement they wish to instruct the Pari Passu Security Agent to pursue within 45 days of the date of delivery of the initial Enforcement Instructions from the Supra Majority Lenders, then the Required Second Priority Creditors shall again be entitled to give instructions to the Pari Passu Security Agent with respect to Enforcement and the first of the Supra Majority Lenders or Required Second Priority Creditors to deliver Enforcement Instructions to the Pari Passu Security Agent shall be the Instructing Group.
Sample 1
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Related to Entitlement to give Enforcement Instruction

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