Examples of Second Lien Enforcement Date in a sentence
Subject at all times to the provisions of Section 2.1 and Section 2.11 of this Agreement, on and after the Second Lien Enforcement Date, the Second Lien Lender Parties may take any Enforcement Action under the Second Lien Debt Documents, including, without limitation, any Enforcement Action with respect to all or any part of the Collateral.
The Second Lien Representative, on behalf of itself and the Second Lien Secured Parties, agrees that, prior to the Second Lien Enforcement Date, it will not take or receive any Collateral or any proceeds of Collateral in connection with the exercise of any right or remedy (including set-off or recoupment) with respect to any Collateral.
From and after the date upon which the Discharge of First Lien Obligations shall have occurred (or, with respect to the Second Lien Collateral Agent, acting on behalf of itself and the Second Lien Secured Parties, prior thereto upon the occurrence of the Second Lien Enforcement Date), the Subordinated Lien Collateral Agents or any Subordinated Lien Secured Party may Exercise Any Secured Creditor Remedies under the applicable Subordinated Lien Documents or applicable law as to any Common Collateral.