Default Rights and Remedies Clause Samples
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Default Rights and Remedies. If an Event of Default exists, the Agent shall have the following rights and remedies:
(a) In addition to all other rights and remedies granted to the Agent in this Agreement or in any other Loan Document or by applicable law, the Agent shall have all of the rights and remedies of a secured party under the UCC (whether or not the UCC applies to the affected Collateral). Without limiting the generality of the foregoing, the Agent may (A) without demand or notice to it, collect, receive or take possession of the Collateral or any part thereof and for that purpose the Agent may enter upon any premises on which the Collateral is located and remove the Collateral therefrom or render it inoperable, and/or (B) sell, lease or otherwise dispose of the Collateral, or any part thereof, in one or more parcels at public or private sale or sales, at the Agent's offices or elsewhere, for cash, on credit or for future delivery, and upon such other terms as the Agent may deem commercially reasonable or otherwise as may be permitted by law. The Agent shall have the right at any public sale or sales, and, to the extent permitted by applicable law, at any private sale or sales, to bid (which bid may be, in whole or in part, in the form of cancellation of indebtedness) and become a purchaser of the Collateral or any part thereof free of any right or equity of redemption on the part of the Debtor, which right or equity of redemption is hereby expressly waived and released by the Debtor. Upon the request of the Agent, the Debtor shall assemble the Collateral and make it available to the Agent at anyplace designated by the Agent that is reasonably convenient to it and the Agent. The Debtor agrees that the Agent shall not be obligated to give more than ten (10) days prior written notice of the time and place of any public sale or of the time after which any private sale may take place and that such notice shall constitute reasonable notice of such matters. The Agent shall not be obligated to make any sale of Collateral if it shall determine not to do so, regardless of the fact that notice of sale of Collateral may have been given. The Agent may, without notice or publication, adjourn any public or private sale or cause the same to be adjourned from time to time by announcement at the time and place fixed for sale, and such sale may, without further notice, be made at the time and place to which the same was so adjourned. The Debtor shall be liable for all reasonable expenses of re...
Default Rights and Remedies. Upon occurrence of any Event of Default Lender may use any of the security described in Paragraphs 7.2 and 7.3 for any purpose for which Borrower could have used it under the Loan Documents or any Related Loan, including applying any funds to payment and performance of Borrower’s obligations under the Loan Documents or under any Related Loan. Lender also shall have all other rights and remedies provided by law regarding the foregoing security including but not limited to the right to foreclose Lender’s security interest in any manner authorized by law.
Default Rights and Remedies. Section 8.1 Event of Default.............................................................................. 84 Section 8.2 Acceleration and Remedies..................................................................... 87 Section 8.3 Performance by Lender......................................................................... 89 Section 8.4
Default Rights and Remedies. A. The occurrence of any Event of Default as defined in the Credit Agreement (including without limitation, a breach of any of the provisions of this Agreement) shall be deemed to be an Event of Default under this Agreement and shall entitle the Bank to exercise its remedies under this Agreement or as otherwise provided by law.
B. Upon the occurrence and during the continuance of an Event of Default, Bank shall be entitled, subject to applicable law, to exercise all of its remedies specified herein, in the Credit Agreement, or in any other document executed in connection with the Credit Agreement or this Agreement, or provided by law and to enforce its security interest in the Collateral. Additionally, upon the occurrence and during the continuance of an Event of Default and subject to applicable law, Bank will be entitled to (i) receive all dividends payable in respect of the Collateral pledged under this Agreement; (ii) change the registration of any registerable Collateral to any other name or form; (iii) appoint any officer or agent of Bank as Pledgor’s true and lawful proxy and attorney-in-fact, with power (exercisable so long as such Event of Default is continuing), to exercise all voting rights in respect of the shares evidencing the Collateral pledged hereby; (iv) endorse Pledgor’s name or any of its officers’ names or agents’ names upon any notes, checks, drafts, money orders, or other instruments of payment (including payments payable under any policy of insurance on the Collateral) or Collateral that may come into possession of the Bank in full or part payment of any amounts owing to the Bank; (v) give written notice to the issuer of such Collateral to effect such change or changes of address so that all mail from the issuer of such Collateral and related thereto addressed to Pledgor may be delivered directly to Bank; (vi) to execute on behalf of Pledgor any financing statements, amendments, subordinations or other filings pursuant to the Credit Agreement; and (vii) do any and all things necessary to be done in and about the premises as fully and effectually as Pledgor might or could do, and hereby ratifying all that said proxy and attorney shall lawfully do or cause to be done by virtue hereof. The proxy and power of attorney described herein shall be deemed to be coupled with an interest and shall be irrevocable for the term of the Credit Agreement, and all transactions thereunder and thereafter as long as any Indebtedness or any of the commit...
Default Rights and Remedies. Section 8.1
Default Rights and Remedies. In addition to all other rights and remedies which the Township may have at law or in equity upon the occurrence of a Default which has not been cured, the Township shall, to the fullest extent permitted by law, be entitled to the following rights and remedies:
Default Rights and Remedies. 8.1 EVENT OF DEFAULT 8.2 SUSPENSION OF COMMITMENTS 8.3 ACCELERATION
Default Rights and Remedies. Section 8.1 Event of Default...........................................................................60 Section 8.2 Acceleration and Remedies..................................................................62 Section 8.3 Performance by Lender......................................................................64 ARTICLE IX SINGLE-PURPOSE, BANKRUPTCY-REMOTE REPRESENTATIONS, WARRANTIES AND COVENANTS
Section 9.1 Applicable to Primary Borrower Parties.....................................................64 Section 9.2 Applicable to Member and the Borrowers.....................................................66 ARTICLE X RESTRUCTURING LOAN, SECONDARY MARKET TRANSACTIONS
Default Rights and Remedies. 6.1 Event of Default
6.2 Suspension or Termination of Commitments
6.3 Acceleration and other Remedies 6.4 Performance by Agent 6.5 Application of Proceeds
Default Rights and Remedies. 58 8.1 Event of Default 58 (A) Payment 58 (B) Default in Other Agreements 58 (C) Breach of Certain Provisions 58 (D) Breach of Warranty 58 (E) Other Defaults Under Loan Documents 59 (F) Change in Control 59 (G) Involuntary Bankruptcy; Appointment of Receiver, etc. 59