Enforcement Action

Enforcement Action. Means any action to enforce or attempt to enforce any right or remedy available with respect to the HOLDER Obligations or the New Creditor Obligations, applicable law or otherwise, including any action to (a) accelerate the maturity of, or demand as immediately due and payable, all or any part of such obligations, (b) exercise any put option, any right of mandatory redemption or any similar right or otherwise cause the Company to honor any redemption or mandatory prepayment or any obligation to... make an offer to repurchase under any such documents, (c) exercise any right of set-off, (d) realize or foreclose upon, repossess, sell or otherwise dispose of, liquidate, or otherwise restrict or interfere with the use of, any Collateral, (e) commence, continue or participate in collection or enforcement action of any kind, against the Company or its Subsidiaries or any Collateral (including any insolvency, bankruptcy, dissolution or liquidation proceeding), in any case, seeking, directly or indirectly, to enforce any rights or remedies, or to enforce any of the obligations incurred by the Company or its Subsidiaries, under or in connection with the New Creditor Notes Documents or (f) commence or pursue any judicial, arbitral or other proceeding or legal action of any kind, seeking injunctive or other equitable relief to prohibit, limit or impair the commencement or pursuit by HOLDER of any of its rights or remedies under or in connection with the HOLDER Note Documents or otherwise available to HOLDER under applicable law. View More

Enforcement Action. Shall mean (a) to take from or for the account of the Company or any guarantor of the Subordinated Debt or the Senior Debt (as the case may be) , 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 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 the Company or any such guarantor to (i) enforce payment of... or to collect the whole or any part of the Subordinated Debt or the Senior Debt (as the case may be) or (ii) commence judicial enforcement of any of the rights and remedies under the Subordinated Loan Documents or the Senior Loan Documents (as the case may be) or applicable law with respect to the Subordinated Debt or the Senior Debt (as the case may be), (c) to exercise any put option or to cause the Company or any such guarantor to honor any redemption or mandatory prepayment obligation under any Subordinated Loan Document or the Senior Loan Documents (as the case may be), (d) to notify account debtors or directly collect accounts receivable or other payment rights of the Company or any such guarantor, (e) to 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 the Company or any such guarantor including the Collateral or (f) the solicitation of bids from third parties to conduct in good faith the liquidation of all or a material portion of the Collateral within a commercially reasonable time or the engagement or retention of sales brokers, marketing agents, investment bankers, accountants, appraisers, auctioneers or other third parties for the purposes of valuing, marketing, and promoting the Collateral to conduct in good faith the sale of all or a material portion of the Collateral within a commercially reasonable time View More

Enforcement Action. Means, with respect to any indebtedness or obligation (contingent or otherwise) or Collateral at any time held by any Lender or Executive Lender: commencing by judicial or non-judicial means the enforcement with respect to such indebtedness, obligation or Collateral of any of the default remedies under any of this Loan Agreement, any applicable agreements or documents of such Lender or Executive Lender, the UCC or other applicable law; repossessing, selling, leasing or otherwise disposing of... all or any part of such Collateral, or exercising account debtor or obligor notification or collection rights with respect to all or any portion thereof, or attempting or agreeing to do so; or appropriating, setting off or applying to such Lender's or Executive Lender's claim any part or all of such Collateral or other property in the possession of, or coming into the possession of, such Lender or Executive Lender or its agent, trustee or bailee. View More

Enforcement Action. Any action by Bank or Creditor, whether judicial or non-judicial, to (i) exercise any remedy with respect to the Collateral or Borrower or any Guarantor, (ii) repossess, collect, accelerate, offset, recoup, give notification to third parties (including, without limitation, account debtor notices) with respect to, sell, dispose of, foreclose upon, give notice of sale, disposition, or foreclosure with respect to, or obtain legal, equitable or injunctive relief with respect to any indebtedness... owing from Borrower or any Guarantor or with respect to any Collateral, including any sale or disposition after the occurrence of an Event of Default with the consent of or at the direction of Bank or Creditor, (iii) exercise any put option, (iv) redeem any equity securities, or (v) join in the filing by a Bank or Creditor of an involuntary bankruptcy or insolvency proceeding against Borrower or any Guarantor, provided, however, none of the following actions shall be deemed to be an Enforcement Action: (i) the imposition of a default rate or late fee as permitted pursuant to the provisions of the applicable loan documents, (ii) the cessation of lending pursuant to the provisions of the applicable loan documents, including upon the occurrence of an event of default, (iii) filing and defending any proof of claim in any Insolvency Proceeding, (iv) the customary operation of a lockbox and/or dominion of funds account, including application by Bank of collections therein to outstanding Senior Debt, and (v) application of pledged cash collateral by Bank to Bank Services Debt or Hedging Services Debt. View More