Common use of Foreclosure on Collateral Clause in Contracts

Foreclosure on Collateral. Institute legal proceedings to foreclose upon and against the Stations under the Mortgages, and exercise any other right, power, privilege or remedy which may be available to a secured party under the Uniform Commercial Code or other applicable law, to recover all amounts then due and owing under the Loan Documents.

Foreclosure on Collateral. Institute legal proceedings to foreclose upon and against the Stations Collateral under the Mortgages, and exercise any other right, power, privilege or remedy which may be available to a secured party under the Uniform Commercial Code or other applicable law, to recover all amounts then due and owing under the Loan Documents.