Enforcement Action

Enforcement Action. Means (a) to take from or for the account of any Company or any guarantor of the Subordinated Debt, 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 Company or any such guarantor with respect to the Subordinated Debt, (b) to sue for payment of, or to initiate or participate with others in any suit, action or proceeding against any Company or any such guarantor 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, (c) to accelerate the Subordinated Debt, (d) to exercise any put option or to cause any Company or any such guarantor to honor any redemption or mandatory prepayment obligation under any Subordinated Debt Document or (e) take any action under the provisions of any state or federal law, including, without limitation, the Uniform Commercial Code, or under any contract or agreement, to enforce, foreclose upon, take possession of or sell any property or assets of any Company or any such guarantor; provided, however, that the term Enforcement Action shall not include (i) the initiation or maintenance of any suit or action by a Subordinated Creditor solely to the extent necessary to prevent the running of any applicable statute of limitations or similar permanent restriction on claims, or (ii) sending a Subordinated Debt Default Notice to any Obligor. View More

Enforcement Action. Shall mean any acceleration of all or any part of the Subordinated Debt, any foreclosure proceeding, the exercise of any power of sale, the obtaining of a receiver, the seeking of default interest, the suing on, or otherwise taking action to enforce the obligation of Holdings or any of its Subsidiaries to pay any amounts relating to any Subordinated Debt, the exercising of any banker's lien or rights of set-off or recoupment, the institution of a Bankruptcy Proceeding against Holdings or any of... its Subsidiaries, or the taking of any other enforcement action against any asset or Property of Holdings or its Subsidiaries. View More

Enforcement Action. Shall mean (a) to take from or for the account of the any Credit 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 Credit Party with respect to the Subordinated Debt, (b) to sue for payment of, or to initiate or participate with others -2- 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 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, (c) to accelerate the Subordinated Debt, (d) to exercise any put option or to cause any Credit Party to honor any redemption or mandatory prepayment obligation under any Subordinated Debt Document or (e) take any action under the provisions of any state or federal law, including, without limitation, the Uniform Commercial Code, or under any contract or agreement, to enforce, foreclose upon, take possession of or sell any property or assets of any Credit Party. View More

Enforcement Action. Is defined in subsection 2.7.

Enforcement Action. Shall mean the exercise by Agent (or its assignee or designee) in good faith and in a commercially reasonable manner of any of its material enforcement rights and remedies as a secured creditor hereunder or under the other Financing Agreements, applicable law or otherwise, in respect of any of the Collateral, at any time following the occurrence of an Event of Default (including, without limitation, the demand for the immediate payment of all or any portion of the Obligations, the solicitation... of bids from third parties to conduct the liquidation of any of the Collateral, the engagement or retention of sales brokers, marketing agents, investment bankers, accountants, appraisers, auctioneers or other third parties for the purposes of valuing, marketing, promoting and selling any of the Collateral, the opposition of the sale of assets constituting Collateral in any bankruptcy or insolvency proceeding, the commencement of any action to foreclose on the security interests or liens of Agent in all or any material portion of the Collateral or commencement of any legal proceedings or actions against any Borrower or any Guarantor or with respect to all or any portion of the Collateral). View More

Enforcement Action. Means with respect to a Claim, the demand for payment or acceleration of such Claim, the repossession of any Collateral, or the commencement or prosecution of enforcement of any of the rights and remedies under the applicable Security Documents or applicable law with respect to such Claim, including, but not limited to, judicial or UCC foreclosure, provided that Enforcement Action shall not include the filing of a claim in an Insolvency Proceeding.

Enforcement Action. Shall mean (a) to demand, sue for, take or receive from or on behalf of Borrower or any guarantor of the Junior Debt, by setoff or in any other manner, the whole or any part of any moneys which may now or hereafter be owing by Borrower or any such guarantor with respect to the Junior Debt, (b) to initiate or participate with others in any suit, action or proceeding against Borrower or any such guarantor 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, or (d) to exercise any put option or to cause Borrower or any such guarantor to honor any redemption or mandatory prepayment obligation under any Junior Debt Document. View More

Enforcement Action. Means any action that may be deemed necessary or desirable to take from time to time in order to enforce any right or pursue any right or remedy of the Collateral Agent under any Security Document upon the occurrence and during the continuation of an Event of Default or to effect any realization upon any Collateral.

Enforcement Action. Shall mean the exercise by Agent in good faith and in a commercially reasonable manner of any of its material enforcement rights and remedies as a secured creditor hereunder or under the other Financing Agreements, applicable law or otherwise, in respect of the Term Loan Priority Collateral, at any time following the occurrence of a Triggering Event (including, without limitation, the demand for the immediate payment of all or any portion of the Obligations arising pursuant to the Term Loan,... the solicitation of bids from third parties to conduct the liquidation of the Term Loan Priority Collateral, the engagement or retention of sales brokers, marketing agents, investment bankers, accountants, appraisers, auctioneers or other third parties for the purposes of valuing, marketing, promoting and selling the Term Loan Priority Collateral, the opposition of the sale of assets constituting Term Loan Priority Collateral in any bankruptcy or insolvency proceeding, the commencement of any action to foreclose on the security interests or liens of Agent in all or any material portion of the Term Loan Priority Collateral or commencement of any legal proceedings or actions against any Borrower or Guarantor or with respect to all or any portion of the Term Loan Priority Collateral). View More

Enforcement Action. Shall mean (a) to take from or for the account of any Obligor, by set-off, recoupment or in any other manner, the whole or any part of any moneys which may now or hereafter be owing or due to any Obligor and apply the same against the Subordinated Debt, (b) to sue for payment of, or to initiate or participate with others in any suit, action or Proceeding against any Obligor to enforce payment of or to collect, the whole or any part of the... Subordinated Debt, (c) to commence judicial or nonjudicial enforcement of any of the rights and remedies under the Subordinated Debt Documents or applicable law with respect to the Subordinated Debt, including without limitation the provision of notices with respect to the existence or any exercise of rights and remedies in respect of the Subordinated Debt whether under applicable law or contract, (d) to make demand for payment of or accelerate the Subordinated Debt, (e) to exercise any put option or to cause any Obligor to honor any redemption or mandatory prepayment obligation in respect of any Subordinated Debt, (f) take any action under the provisions of any state or federal law, including, without limitation, the Uniform Commercial Code, or under any contract or agreement, to enforce, foreclose upon, take possession of or sell any property or assets of any Obligor, whether pursuant to the Subordinated Security Documents or otherwise, (g) commence or join in any action to seek relief from the automatic stay pursuant to Section 362 of the Bankruptcy Code with respect to any collateral or other property of any Obligor or seek adequate protection in respect of any liens or security interests securing the Subordinated Debt, or (h) commence or join in any proceedings for the appointment of a receiver, custodian or keeper of all, or any portion, of the assets of any Obligor; provided, however, that the Subordinated Creditor's (i) demand for payment (without further action) of Permitted Subordinated Debt Payments in accordance with the provisions of Section 2.3 hereof shall not be deemed to constitute an Enforcement Action for purposes of this Agreement and (ii) conversion of all or any portion of the Subordinated Debt into common stock (as defined in the Senior Loan Agreement) of Parent or preferred stock of Parent if the terms of such 2 preferred stock have been approved by Senior Creditor shall not be deemed to constitute an Enforcement Action for purposes of this Agreement. View More