Common use of Security Enforced Clause in Contracts

Security Enforced. any mortgage, charge, pledge lien or other encumbrance, present or future, created or assumed by the Issuer or the Guarantor or any of the Principal Subsidiaries becomes enforceable and any step is taken to enforce it (including the taking of possession or the appointment of a receiver, manager or other similar person); or

Security Enforced. any mortgage, charge, pledge pledge, lien or other encumbrance, present or future, created or assumed by the Issuer or Issuer, the Guarantor or any of their respective Material Subsidiaries in respect of an amount which exceeds 15 per cent. of the Principal Subsidiaries Consolidated Total Assets becomes enforceable and any step is taken to enforce it (including the taking of possession or the appointment of a receiver, administrative receiver, administrator manager or other similar person); or

Security Enforced. any mortgage, charge, pledge pledge, lien or other encumbrance, present or future, created or assumed by the Issuer or any of its Material Subsidiaries in respect of a material part of the Guarantor property, assets or revenues of the Issuer or any of the Principal its Material Subsidiaries becomes enforceable and any step is taken to enforce it (including the taking of possession or the appointment of a receiver, manager or other similar person); or

Security Enforced. any Any mortgage, charge, pledge pledge, lien or other encumbrance, present or future, created or assumed by the Issuer or any of its Subsidiaries in respect of any substantial part of the Guarantor property, assets or revenues of the Issuer or any of the Principal its Subsidiaries becomes enforceable and any step is taken to enforce it (including the taking of possession or the appointment of a receiver, manager or other similar person); or

Security Enforced. any Any mortgage, charge, pledge pledge, lien or other encumbrance, present or future, created or assumed by the Issuer or the Guarantor or any of the Principal Subsidiaries Subsidiary becomes enforceable and any step is taken to enforce it (including the taking of possession or the appointment of a receiver, manager or other similar person); or