Possession and Management of the Collateral Sample Clauses

Possession and Management of the Collateral. 7.1 The collateral shall be possessed and managed by Party A. Party A shall maintain the integrity of the collateral and shall not impair the value of the collateral through improper utilization. Party B is entitled to supervise the possession and management of the collateral. 7.2 In case of loss or damage to the collateral, Party A shall notify Party B timely and take necessary efforts to minimize the loss. Party A shall also provide Party B with necessary proof of the loss or damage issued by the relevant authorities.
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Possession and Management of the Collateral. 1. The collateral under this Contract shall be in the possession of the mortgagor, and the mortgagor shall have the obligation to properly manage and reasonably use the mortgaged property. The mortgagee has the right to supervise and inspect the management and use of the collateral. 2. During the mortgage period, without the written consent of the mortgagee, the mortgagor shall not give, transfer, lease, remortgage the collateral or make any other dispositions. With the written consent of the mortgagee, if the mortgagor disposes of the collateral by transfer, lease or other means, the proceeds shall be used to pay off the secured creditor's rights in advance or such proceeds should be deposited. 3. During the mortgage period, if the collateral is damaged, lost, confiscated or appropriated or a third party takes the ownership of the collateral due to attachment, mixing, or processing, the mortgagor shall take effective measures in time to prevent the loss from expanding, and immediately notify the mortgagee in writing. The mortgagee has the right to priority compensation for the insurance money, damages or compensation received; If the performance period of the secured claim has not expired, the mortgagee shall have the right to request early payment of the debt or deposit. 4. During the mortgage period, if the value of the collateral decreases, the mortgagee has the right to request the mortgagor to restore the value of the collateral or provide a guarantee equivalent to the reduced value recognized by the mortgagee.
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Possession and Management of the Collateral. Article XVI Before the Mortgagee realizes the mortgage set under this Contract, the collateral under this Contract shall be possessed and managed by the Mortgagor. The Mortgagor shall keep the collateral intact when it is possessed, and the Mortgagee shall have the right to check the management of the collateral. Expenses incurred from the collateral management and maintenance shall be borne by the Mortgagor. Article XVII If the collateral is damaged or lost, the Mortgagor shall promptly inform the Mortgagee and take immediate actions to prevent further loss. In the meantime, the Mortgagor shall timely submit to the Mortgagee the proof of the cause to such damage or loss issued by the relevant competent authority and apply to the insurance company for claim settlement.
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Related to Possession and Management of the Collateral

  • Location of the Collateral Except in the ordinary course of Grantor’s business, Grantor agrees to keep the Collateral (or to the extent the Collateral consists of intangible property such as accounts or general intangibles, the records concerning the Collateral) at Grantor’s address shown above or at such other locations as are acceptable to Lender. Upon Lender’s request, Grantor will deliver to Lender in form satisfactory to Lender a schedule of real properties and Collateral locations relating to Grantor’s operations, including without limitation the following: (1) all real property Grantor owns or is purchasing; (2) all real property Grantor is renting or leasing; (3) all storage facilities Grantor owns, rents, leases, or uses; and (4) all other properties where Collateral is or may be located.

  • Possession and Use Contractor may possess, use and reproduce Confidential Information solely for the Purpose. Contractor shall not use the Confidential Information for any other purpose.

  • Possession and Control The Grantor has exclusive possession and control of its Equipment and Inventory.

  • Possession of the Property The Parties hereby agree that the exclusive possession of the Property shall be delivered by the Seller to the Buyer on

  • Remedies; Disposition of the Collateral If any Event of Default shall have occurred and be continuing, then any Collateral repossessed by the Collateral Agent under or pursuant to Section 7.1 hereof and any other Collateral whether or not so repossessed by the Collateral Agent, may be sold, assigned, leased or otherwise disposed of under one or more contracts or as an entirety, and without the necessity of gathering at the place of sale the property to be sold, and in general in such manner, at such time or times, at such place or places and on such terms as the Collateral Agent may, in compliance with any mandatory requirements of applicable law, determine to be commercially reasonable. Any of the Collateral may be sold, leased or otherwise disposed of, in the condition in which the same existed when taken by the Collateral Agent or after any overhaul or repair at the expense of the relevant Assignor which the Collateral Agent shall determine to be commercially reasonable. Any such disposition which shall be a private sale or other private proceedings permitted by such requirements shall be made upon not less than 10 days' prior written notice to the relevant Assignor specifying the time at which such disposition is to be made and the intended sale price or other consideration therefor, and shall be subject, for the 10 days after the giving of such notice, to the right of the relevant Assignor or any nominee of such Assignor to acquire the Collateral involved at a price or for such other consideration at least equal to the intended sale price or other consideration so specified. Any such disposition which shall be a public sale permitted by such requirements shall be made upon not less than 10 days' prior written notice to the relevant Assignor specifying the time and place of such sale and, in the absence of applicable requirements of law, shall be by public auction (which may, at the Collateral Agent's option, be subject to reserve), after publication of notice of such auction (where required by applicable law) not less than 10 days prior thereto. The Collateral 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 the sale, and such sale may be made at any time or place to which the sale may be so adjourned. To the extent permitted by any such requirement of law, the Collateral Agent may bid for and become the purchaser of the Collateral or any item thereof, offered for sale in accordance with this Section without accountability to the relevant Assignor. If, under mandatory requirements of applicable law, the Collateral Agent shall be required to make disposition of the Collateral within a period of time which does not permit the giving of notice to the relevant Assignor as hereinabove specified, the Collateral Agent need give such Assignor only such notice of disposition as shall be reasonably practicable in view of such mandatory requirements of applicable law. Each Assignor agrees to do or cause to be done all such other acts and things as may be reasonably necessary to make such sale or sales of all or any portion of the Collateral valid and binding and in compliance with any and all applicable laws, regulations, orders, writs, injunctions, decrees or awards of any and all courts, arbitrators or governmental instrumentalities, domestic or foreign, having jurisdiction over any such sale or sales, all at such Assignor's expense.