Security Enforcement Event definition
Security Enforcement Event means, in respect of Debentures issued under a series / tranche, the occurrence of an event being an Event of Default or the occurrence of any event which, after notice, or lapse of time, or both, would constitute an Event of Default under the Transaction Documents, pursuant to which the Security shall become enforceable in accordance with the terms of the Transaction Documents, unless such Event of Default at the request of the Company is expressly waived by the Debenture Trustee with the consent of the Super Majority or with the authority of a Super Majority Resolution. It is clarified that if a cure period has been provided for in Transaction Documents to cure an Event of Default, the Security Enforcement Event shall be triggered only on the expiry of such cure period. It is further clarified that enforcement of the hypothecation to be created under the Deed of Hypothecation shall not be construed as a matter concerning only a particular series/ tranche of Debentures as the same concerns all the Debenture Holders considering that there is a community of interest amongst them in relation to the holding and enforcement of the hypothecation to be created therein;
Security Enforcement Event means in respect of the Notes, the occurrence of an Event of Default pursuant to which the Collateral Security Interest shall become enforceable in accordance with the terms of the Trust Deed;
Security Enforcement Event means any event arising which entitles the Secured Party to take possession of, direct the transfer of, or otherwise exercise any rights in respect of the Shares.
Examples of Security Enforcement Event in a sentence
Until the happening of a Security Enforcement Event, the Debenture Trustee shall not be in any manner required, bound or concerned to interfere with the management or the affairs of the Company or its business or the custody, care, preservation or repair of the Security or any part thereof.