Collection Action

Collection Action. Shall mean (a) to demand, sue for, take or receive from or on behalf of any Credit Party or any guarantor of the Subordinated Obligations, by set-off or in any other manner, the whole or any part of any moneys which may now or hereafter be owing by any Credit Party with respect to the Subordinated Obligations, (b) to initiate or participate with others in any suit, action or proceeding against any Credit Party to (i) enforce payment of or to collect the whole... or any part of the Subordinated Obligations or (ii) commence judicial enforcement of any of the rights and remedies under the Subordinated Loan Documents or applicable law with respect to the Subordinated Obligations or the Subordinated Loan Documents, (c) to accelerate any Subordinated Obligations, or (d) to exercise any put option or to cause any Credit Party to honor any redemption or mandatory prepayment obligation under any Subordinated Loan Document. View More

Collection Action. Shall mean, with respect to the Junior Debt, any action (a) to sue for, take or receive from or on behalf of any Loan Party, by set-off or in any other manner, the whole or any part of any moneys which may now or hereafter be owing by any Loan Party with respect to the Junior Debt, (b) to initiate or participate with others in any suit, action or Proceeding against any Loan Party or its property to (i) enforce payment of or to collect the whole or any part of the Junior Debt or (ii) commence... judicial enforcement of any of the rights and remedies under the Junior Debt Documents or applicable law with respect to the Junior Debt, (c) to accelerate any Junior Debt, (d) to cause any Loan Party to honor any redemption, put or mandatory payment obligation with respect to the Junior Debt or any other equity interests of any Loan Party, (e) to notify account debtors or directly collect accounts receivables or other payment rights of any Loan Party, (f) to take any action under the provisions of any state, local, federal or foreign law, including, without limitation, the UCC, or under any contract or agreement, to enforce, take possession of or sell any property or assets of any Loan Party or (g) to exercise in any other manner any remedies with respect to the Junior Debt set forth in any Junior Debt Document or that otherwise might be available to Sellers with respect to the Junior Debt at law, in equity, pursuant to judicial proceeding or otherwise. View More

Collection Action. Shall mean (a) to demand, sue for, take or receive from or on behalf of the Borrower or the Subordinated Creditors, by set-off or in any other manner, the whole or any part of any moneys which may now or hereafter be owing by the Borrower or the Subordinated Creditors with respect to the Subordinated Debt, (b) to initiate or participate with others in any suit, action or proceeding against the Borrower or the Subordinated Creditors to (i) enforce payment of or to collect the whole or any part... of the Subordinated Debt or (ii) commence judicial enforcement of any of the rights and remedies under the Subordinated Debt Documents or applicable law with respect to the Subordinated Debt or (c) to accelerate the maturity of any Subordinated Debt, or (d) attach any lien or other encumbrance against the assets or property of Borrower; provided, however, that "Collection Action" shall not include any exercise of rights permitted by Section 3.3 and Section 6 hereof (subject to the limitations set forth therein). View More

Collection Action. The term "Collection Action" shall mean any of the following actions by any Lender: (a) ask, demand, sue for, take or receive from or on behalf of Borrowers, by set-off or in any other manner, the whole or any part of any monies which may now or hereafter be owing by Borrowers to Lender on such Lender's Debt (other than the receipt of payments in the ordinary course of business in accordance with the SVB Documents or the NEIPF Documents, as the case may be, prior to the occurrence of an Event... of Default), (b) initiate or participate with others in any suit, action or proceeding against Borrowers to enforce payment of or to collect the whole or any part of such Lender's Debt, (c) ask, demand, take or receive any additional security for any of such Lender's Debt, or (d) initiate or participate with others in any action to realize upon such Lender's Security Interest or any of the assets of Borrowers. "Collection Action" shall not include the acceleration of payment of such Lender's Debt. View More

Collection Action. Shall mean (a) to initiate or join in any suit, action or proceeding against the Company or any Collateral to enforce payment of or make demand for all or any part of the Subordinated Debt, (b) to seek monetary damages against the Company, or (c) to take from or for the account of the Company, by set-off or in any other matter, all or any part of any moneys which may now or hereafter be owing by the Company with respect to the Subordinated Debt.

Collection Action. Shall mean (a) to initiate or join in any suit, action or proceeding against any Company or Collateral to enforce payment of or make demand for all or any part of the Subordinated Debt, (b) to seek monetary damages against any Company, or (c) to take from or for the account of any Company, by set-off or in any other matter, all or any part of any moneys which may now or hereafter be owing by such Company with respect to the Subordinated Debt, but shall not include or mean any action by... Subordinated Creditor with respect to enforcement of any right to convert the Subordinated Note as provided therein or with respect to its enforcement of any similar equity rights not deemed part of the Subordinated Debt (as hereinafter defined). View More