Security & Collateral · glossary
A default that is still continuing, plus the Bank's written notice that the security is enforceable. Only then may the Bank sell, appoint a receiver or an administrator, or take the dividends and votes (clause 9.1). The Bank never sent the notice. Definition: Enforcement Event · Debenture §9.1 · Chapter 3 · Chapter 8
Explained in Chapter 3, Fixed and Floating, of Security & Collateral.
An Enforcement Event needs two things. An Event of Default (a breach listed in the Facility Agreement) must be continuing, and the Bank must have given written notice that the security is enforceable.Read Chapter 3, Fixed and Floating →
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an Event of Default which is continuing and in respect of which the Bank has given the Company written notice that the security created by this Debenture is enforceable;Read the definition in the document →
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