Common use of Possession and Assembly of Collateral Clause in Contracts

Possession and Assembly of Collateral. After the occurrence and during the continuance of any Event of Default, the Agent may, without notice, demand or legal process of any kind, take possession of any or all of the Collateral (in addition to Collateral of which the Agent already has possession), wherever it may be found, and for that purpose may pursue the same wherever it may be found, and may enter into any Loan Party's premises where any of the Collateral may be or is supposed to be, and search for, take possession of, remove, keep and store any of the Collateral until the same shall be sold or otherwise disposed of and the Agent shall have the right to store the same in any Loan Party's premises without cost to the Agent. At the Agent's request, the Company will, at the Company's sole expense, assemble the Collateral and make it available to the Agent at a place or places to be designated by the Agent which is reasonably convenient to the Agent and the Company.