Security Enforcement Action definition

Security Enforcement Action has the meaning given in Schedule A of the CSAA.
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Security Enforcement Action means the exercise by the Collateral Agent (or at its direction), following initiation of enforcement action in compliance with Section 6.2 (Initiation of Security Enforcement Action) and Section 6.3 (Conduct of Security Enforcement Action) of the Common Security and Account Agreement, of enforcement rights with respect to the Collateral and any of the other enforcement rights (including exercising step-in and other rights with respect to the Direct Agreements entered into pursuant to Section 3.4 (Direct Agreements) of the Common Security and Account Agreement) contemplated by the Common Security and Account Agreement, the other Security Documents and the Direct Agreements. For the avoidance of doubt, Security Enforcement Action shall not include any action taken by the Collateral Agent (or at its direction) in accordance with Section 6.1 (Collateral Agent Action Generally) of the Common Security and Account Agreement.
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Security Enforcement Action means the taking of any steps to enforce or require the enforcement of any Transaction Security (including the crystallisation of any floating charge forming part of the Transaction Security) or any right or remedy under any Security Document.
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Examples of Security Enforcement Action in a sentence

  • Nothing in this Article 16 (Common Remedies and Enforcement) shall limit or restrict any right of any Secured Party or the Collateral Agent pursuant to Section 6.3 (Conduct of Security Enforcement Action) of the Common Security and Account Agreement.

  • Following a Declared Event of Default, any and all remedies under this Agreement may be exercised from time to time subject to and in accordance with the terms of the Intercreditor Agreement and Common Security and Account Agreement (including, for the avoidance of doubt, the receipt by the Security Trustee of a Security Enforcement Action Initiation Request or other instruction in accordance with the Common Security and Account Agreement).

  • Until the Discharge of the Senior Secured Debt, subject to Clause 7, and unless the Senior Security Trustee has previously consented in writing, none of the Subordinated Secured Finance Parties shall take any Security Enforcement Action.

  • The Senior Security Trustee shall inform the Subordinated Security Trustee promptly upon the taking of any Security Enforcement Action by it.


More Definitions of Security Enforcement Action

Security Enforcement Action means in relation to any Secured Party, any action whatsoever by such Secured Party to exercise or enforce any Security conferred on or for the benefit of it or any other Secured Party by the Security Documents on any asset of a Company, including without limitation any such action to:
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Related to Security Enforcement Action

  • Enforcement Action means any action to enforce any Obligations or Loan Documents or to exercise any rights or remedies relating to any Collateral (whether by judicial action, self-help, notification of Account Debtors, exercise of setoff or recoupment, exercise of any right to vote or act in a Loan Party’s Insolvency Proceeding, or otherwise), in each case solely to the extent permitted by the Loan Documents.