Non-Controlling Authorized Representative Enforcement Date definition

Non-Controlling Authorized Representative Enforcement Date means, with respect to any Non-Controlling Authorized Representative, the date which is 180 days (throughout which 180 day period such Non-Controlling Authorized Representative was the Major Non-Controlling Authorized Representative) after the occurrence of both (i) an Event of Default (under and as defined in the Other First-Priority Agreement under which such Non-Controlling Authorized Representative is the Authorized Representative) and (ii) the Controlling Authorized Representative’s and each other Authorized Representative’s receipt of written notice from such Non-Controlling Authorized Representative certifying that (x) such Non-Controlling Authorized Representative is the Major Non-Controlling Authorized Representative and that an Event of Default (under and as defined in the Other First-Priority Agreement under which such Non-Controlling Authorized Representative is the Authorized Representative) has occurred and is continuing and (y) the First-Priority Obligations of the Series with respect to which such Non-Controlling Authorized Representative is the Authorized Representative are currently due and payable in full (whether as a result of acceleration thereof or otherwise) in accordance with the terms of the applicable Other First-Priority Agreement; provided that the Non-Controlling Authorized Representative Enforcement Date shall be stayed and shall not occur and shall be deemed not to have occurred with respect to any Common Collateral (1) at any time the Controlling Authorized Representative has commenced and is diligently pursuing any enforcement action with respect to such Common Collateral or (2) at any time the Grantor that has granted a security interest in such Common Collateral is then a debtor under or with respect to (or otherwise subject to) any Insolvency or Liquidation Proceeding.
Non-Controlling Authorized Representative Enforcement Date means, with respect to any Non-Controlling Authorized Representative, the date which is 90 days (throughout which 90 day period such Non-Controlling Authorized Representative was the Major Non-Controlling Authorized Representative) after the occurrence of both (i) an Event of Default (under and as defined in the Additional First Lien Document under which such Non-Controlling Authorized Representative is the Authorized Representative) and (ii) the Collateral Agent’s and each other Authorized
Non-Controlling Authorized Representative Enforcement Date has the meaning assigned to such term in the Collateral Agency Agreement.

Examples of Non-Controlling Authorized Representative Enforcement Date in a sentence

  • From and after the earlier of (x) the Discharge of Credit Agreement Obligations and (y) the Non-Controlling Authorized Representative Enforcement Date, the Additional First Lien Collateral Agent (as defined below) will be the Controlling Collateral Agent.

  • CONTROLLING COLLATERAL AGENT: Until the earlier of (x) the Discharge of Credit Agreement Obligations (to be defined in the Second Lien Parity Intercreditor Agreement) and (y) the Non-Controlling Authorized Representative Enforcement Date (as defined below), the Credit Agreement Collateral Agent will be the Controlling Collateral Agent.

  • From and after the earlier of (x) the Discharge of Credit Agreement Obligations and (y) the Non-Controlling Authorized Representative Enforcement Date, the Additional Second Lien Collateral Agent (as defined below) will be the Controlling Collateral Agent.

  • CONTROLLING COLLATERAL AGENT: Until the earlier of (x) the Discharge of Credit Agreement Obligations (to be defined in the First Lien Parity Intercreditor Agreement) and (y) the Non-Controlling Authorized Representative Enforcement Date (as defined below), the Credit Agreement Collateral Agent will be the Controlling Collateral Agent.


More Definitions of Non-Controlling Authorized Representative Enforcement Date

Non-Controlling Authorized Representative Enforcement Date has the meaning set forth in the Intercreditor Agreement.
Non-Controlling Authorized Representative Enforcement Date means, with respect to any Non-Controlling First Lien Authorized Representative, the date which is 180 days (throughout which 180 day period such Non-Controlling First Lien Authorized Representative was the Major Non-Controlling First Lien Authorized Representative) after the occurrence of both (i) an Event of Default (under and as defined in the Other First Priority Agreement under which such Non- Controlling First Lien Authorized Representative is the Authorized Representative) and (ii) each First Lien Collateral Agent’s and each other First Lien Authorized Representative’s receipt of written notice from such Non-Controlling First Lien Authorized Representative certifying that (x) such Non-Controlling First Lien Authorized Representative is the Major Non-Controlling First Lien Authorized Representative and that an Event of Default (under and as defined in the Other First Priority Agreement under which such Non-Controlling First Lien Authorized Representative is the Authorized Representative) has occurred and is continuing and(y) the First Priority Obligations of the series with respect to which such Non-Controlling First Lien Authorized Representative is the First Lien Authorized Representative are currently due and payable in full (whether as a result of acceleration thereof or otherwise) in accordance with the terms of the applicable Other First Priority Agreement; provided that the Non-Controlling First Lien Authorized Representative Enforcement Date shall be stayed and shall not occur and shall be deemed not to have occurred with respect to any Collateral (1) at any time the Applicable First Lien Collateral Agent acting on the instructions of the Applicable First Lien Authorized Representative has commenced and is diligently pursuing any enforcement action with respect to such Collateral or (2) at any time the Grantor that has granted a security interest in such Collateral is then a debtor under or with respect to (or otherwise subject to) any Insolvency or Liquidation Proceeding.
Non-Controlling Authorized Representative Enforcement Date means, with respect to any representative of First Lien Obligations that is not the Applicable Authorized Representative (each, a “Non-Controlling Authorized Representative”) in respect of any Collateral, the date that is 90 days (throughout which 90-day period such Non-Controlling Authorized Representative was the Major Non-Controlling Authorized Representative) after the occurrence of both
Non-Controlling Authorized Representative Enforcement Date means 180 days (or such alternative period to be agreed among Administrative Agent, Second Lien Representative and Borrower Agent) after the acceleration of the Largest Second Lien Pari Passu Debt; provided that such date shall be stayed and shall not occur if (1) the Administrative Agent or the Collateral Agent has commenced and is diligently pursuing any enforcement action with respect to the Collateral or (2) the Credit Party which has granted a security interest in the Collateral is then a debtor subject to an insolvency or liquidation proceedings; provided further, if the circumstances described in clause (1) or (2) above subsequently occur, the Non-Controlling Authorized Representative Enforcement Date shall be deemed (prospectively only) not to have occurred.
Non-Controlling Authorized Representative Enforcement Date means a period to be agreed (but in any event not less than 90 days) after the acceleration of the Largest Series of Pari Passu Debt Obligations has occurred; provided that such date shall be stayed and shall not occur if the Administrative Agent (1) has commenced and is diligently pursuing any enforcement action with respect to the Collateral or (2) is prohibited by applicable law, rule, regulation or order from doing so (including as a result of any insolvency or liquidation proceedings with respect to any Loan Party).
Non-Controlling Authorized Representative Enforcement Date means 180 consecutive days (or such alternative period to be agreed among the Collateral Agent, the First Lien Representative and the Borrower) after (a) the acceleration of the Largest First Lien Pari Passu Debt (throughout which consecutive 180 day period such Largest First Lien Pari Passu Debt continued to constitute the Largest First Lien Pari Passu Debt) and (b) each First Lien Representative’s receipt of written notice that such acceleration has occurred; provided that such date shall be stayed and shall not occur if (1) the Administrative Agent or the Applicable Authorized Representative has commenced and is diligently pursuing any enforcement action with respect to all or a material portion of the Collateral or (2) the Loan Party which has granted a security interest in the Collateral is then a debtor subject to an insolvency or liquidation proceeding; provided, further, if the circumstances described in clause (1) or (2) above subsequently occur, the Non-Controlling Authorized Representative Enforcement Date shall be deemed (prospectively only) not to have occurred and the First Lien Representative under the Largest First Lien Pari Passu Debt (and all First Lien Secured Parties represented by such First lien Representative) shall, if applicable, cease exercising any rights or remedies with respect to the Collateral.
Non-Controlling Authorized Representative Enforcement Date has the meaning assigned to it in the First Lien Intercreditor Agreement.