Common use of Grantor’s Obligations Upon Default Clause in Contracts

Grantor’s Obligations Upon Default. Upon the request of the Administrative Agent after the occurrence and during the continuance of an Event of Default, each Grantor will: (a) assemble and make available to the Administrative Agent the Collateral and all books and records relating thereto at any place or places specified by the Administrative Agent, whether at a Grantor’s premises or elsewhere; and (b) subject in all cases to any lease or sub-lease agreements and any collateral access agreements, permit the Administrative Agent, by the Administrative Agent’s representatives and agents, to enter, occupy and use any premises where all or any part of the Collateral, or the books and records relating thereto, or both, are located, to take possession of all or any part of the Collateral or the books and records relating thereto, or both, to remove all or any part of the Collateral or the books and records relating thereto, or both, and to conduct sales of the Collateral, without any obligation to pay the Grantor for such use and occupancy.

Grantor’s Obligations Upon Default. Upon the request of the Administrative Collateral Agent after the occurrence and during the continuance of an Event of Default, each Grantor will: (a) assemble and make available to the Administrative Collateral Agent the Collateral and all books and records relating thereto at any place or places specified by the Administrative Collateral Agent, whether at a Grantor’s premises or elsewhere; and (b) subject in all cases to any lease or sub-lease agreements and any collateral access agreements, permit the Administrative Collateral Agent, by the Administrative Collateral Agent’s representatives and agents, to enter, occupy and use any premises where all or any part of the Collateral, or the books and records relating thereto, or both, are located, to take possession of all or any part of the Collateral or the books and records relating thereto, or both, to remove all or any part of the Collateral or the books and records relating thereto, or both, and to conduct sales of the Collateral, without any obligation to pay the Grantor for such use and occupancy.