Common use of Occupation of Business Location Clause in Contracts

Occupation of Business Location. In connection with the Agent's exercise of the Agent's rights under this Article XI, the Agent may, unless prohibited by law, enter upon, occupy, and use any premises owned or occupied by any Borrower, and may, unless prohibit by law, exclude the Borrowers from such premises or portion thereof as may have been so entered upon, occupied, or used by the Agent. The Agent shall not be required to remove any of the Collateral from any such premises upon the Agent's taking possession thereof, and may render any Collateral unusable to the Borrowers. In no event shall the Agent be liable to the Borrowers for use or occupancy by the Agent of premises to this Article XI, nor for any charge

Appears in 1 contract

Sources: Loan and Security Agreement (Lechters Inc)

Occupation of Business Location. In connection with the Agent's exercise of the Agent's rights under this Article XI, the Agent may, unless prohibited by law, may enter upon, occupy, and use any premises owned or occupied by any Borrower, and mayto the extent permitted, unless prohibit occupied by law, Borrower and may exclude the Borrowers from such premises or portion thereof as may have been so entered upon, occupied, or used by the Agent. The Agent shall not be required to remove any of the Collateral from any such premises upon the Agent's taking possession thereof, and may render any Collateral unusable to the Borrowers. In no event shall the Agent be liable to the Borrowers for use or occupancy by the Agent of any premises pursuant to this Article XI, nor for any chargecharge (such as wages for the Borrowers' employees and utilities) incurred in connection with the Agent's exercise of the Agent's Rights and Remedies.

Appears in 1 contract

Sources: Loan and Security Agreement (Duckwall Alco Stores Inc)

Occupation of Business Location. In connection with the Agent's exercise of the Agent's rights under this Article XI, the Agent may, unless prohibited by law, enter upon, occupy, and use any premises owned or occupied by any Borrower, and may, unless prohibit by law, exclude the Borrowers from such premises or portion thereof as may have been so entered upon, occupied, or used by the Agent. The Agent shall not be required to remove any of the Collateral from any such premises upon the Agent's taking possession thereof, and may render any Collateral unusable to the Borrowers. In no event shall the Agent be liable to the Borrowers for use or occupancy by the Agent of any premises pursuant to this Article XI, nor for any chargecharge (such as wages for the Borrowers' employees and utilities) incurred in connection with the Agent's exercise of the Agent's Rights and Remedies.

Appears in 1 contract

Sources: Loan and Security Agreement (Lechters Inc)