Enforcement Instruction definition
Examples of Enforcement Instruction in a sentence
Qualifying Debt) below in respect of the Issuer and the Non-Migrated Bondholders, a single vote by reference to the entire Outstanding Principal Amount of the Qualifying Borrower Debt of the applicable Participating QBS Creditors will be counted for or, as the case may be, against the applicable STID Proposal, SSA Instruction Notice, Emergency SSA Instruction Notice, Enforcement Instruction Notice, Further Enforcement Instruction Notice, Intercreditor Instruction Notice or Direction Notice.
Unless the Intercreditor Agent has received written notice from the Company or any Instructing Representative that the underlying Event of Default that is the subject of any Enforcement Instruction has been or is cured or is waived prior to the receipt of Enforcement Instructions, the Intercreditor Agent shall comply (and shall direct the Collateral Agent to comply) with such Enforcement Instructions.
The DSRA Account Bank hereby acknowledges that following delivery of an Enforcement Instruction, it shall act on the basis of instructions received from the Security Agent in compliance with the STID.
Any Enforcement Instruction delivered pursuant to this Agreement shall expressly include instructions as to the actions to be taken by the Collateral Agent and shall include a certification (upon which the Collateral Agent may conclusively rely) that the actions contemplated by such Enforcement Instruction complies with and is in accordance with the Security Enforcement Principles.
Any deemed certification with respect to an Enforcement Instruction given by the Indenture Trustee shall be deemed to be a certification of the Noteholders directing the Indenture Trustee to have given such Enforcement Instruction and shall not be deemed to be a certification of the Indenture Trustee.
The DSRA Account Bank has agreed to be the bank at which the Debt Service Reserve Account (hereinafter, the Account) is maintained, and to provide certain services to the Issuer and, following the delivery of an Enforcement Instruction, the Security Agent in relation to moneys standing to the credit of the Account and payments thereto.
If at any time following a default by the Legal Owner of a Secured Obligation, the relevant Tradeflow Finance Party delivers to DMCCA a Security Enforcement Instruction which indicates its intention to exercise its security rights over a Warrant (or the Goods represented by that Warrant), DMCCA shall not take any action to sell such Warrant (or the Goods represented by that Warrant) by way of close out settlement as envisaged by this Clause 3.
Following the delivery of an Enforcement Instruction, the Issuer may not make any Payment in respect of any Liabilities except from the proceeds from any sale, collection, liquidation or enforcement of the Pari Passu Collateral, which shall be distributed by the Common Collateral Agent in accordance with the terms hereof and subject to the conditions of the relevant Shared Security Document, provided that the Payments prohibited by this Section 5 shall remain owing by the Issuer to the extent not paid.
Following the delivery of an Enforcement Instruction, the Issuer may not make any Payment in respect of any Liabilities except from the proceeds from any sale, collection, liquidation or enforcement of the Collateral, which shall be distributed by the Collateral Agent in accordance with the terms hereof and subject to the conditions of the relevant Shared Security Document, provided that the Payments prohibited by this Section 5 shall remain owing by the Issuer to the extent not paid.