Commence Legal Action

Commence Legal Action. Shall mean (i) as to Senior Creditors, asserting, participating in or bringing any sort of action, suit or proceeding (including without limitation any insolvency proceeding) either at law or in equity for the enforcement, collection or realization of all, or any part of, the Senior Debt, and (ii) as to Junior Creditor, asserting, participating in or bringing any sort of action, suit or proceeding (including without limitation any insolvency proceeding) either at law or in equity for the... enforcement, collection or realization of all, or any part of, the Subordinated Debt. "Commencing Legal Action" and "Commenced Legal Action" shall have the same meaning as Commence Legal Action. View More