Enforcement Period

Enforcement Period. Means the period of time following the receipt by either Trustee or BA of an Enforcement Notice until the Trustee Claim is Paid In Full (if the Trustee is the Enforcing Party) or the BA Claim is Paid In Full (if BA is the Enforcing Party), provided that if (a) the Enforcing Party has not commenced foreclosure or other direct action to collect its Claim within ninety (90) days after delivery of the Enforcement Notice or (b) at any time after the commencement of such foreclosure or other direct... action to collect its claim, the Enforcing Party ceases to prosecute such Enforcement Action with reasonable diligence, then the Enforcement Period with respect to such Enforcement Notice shall terminate, provided that if Hefner exercises the Hefner Option (as each of those terms is defined under the Credit Agreement), the Enforcement Period with respect to the BA Claim shall be deemed extended by the number of days BA is required under Section 7.05 of the Credit Agreement (as that section was in effect as of the date hereof) to forebear in exercising its right to foreclose the Deed of Trust. A notice to Hefner by either BA or Trustee that Hefner has 30 days to exercise the Hefner Option shall not constitute an Enforcement Notice. -2- View More

Enforcement Period. Means, with respect to any Claim of any of the Creditors, any period of time commencing upon the occurrence of any event of default with respect to such Claim that permits such Creditor to take any of the Enforcement Actions, and continuing until either (a) the final payment or satisfaction in full of such Creditor's Claims, or (b) the Creditors agree in writing to terminate such... Enforcement Period. View More

Enforcement Period. Means the period of time following the receipt by any Party of an Enforcement Notice until (a) the Claim of the Enforcing Party is Paid in Full, or (b) the Parties agree in writing to terminate such Enforcement Period.