Common use of Remedies with Respect to Collateral Clause in Contracts

Remedies with Respect to Collateral. (a) Upon the occurrence of an Event of Default, the Agent or any representative of Agent shall have the rights and remedies of a secured party under the UCC in effect on the date thereof (regardless of whether the same has been enacted in the jurisdiction where the rights or remedies are asserted), including, without limitation, the right to require the Borrowers and the Guarantors to assemble the Collateral, at the Borrowers' expense, and make it available to the Agent at a place designated by the Agent which is reasonably convenient to both parties, and enter any premises where any of the Collateral shall be located and to keep and store the Collateral on said premises until sold (and if said premises be the property of any Borrower, any Guarantor or any of its Subsidiaries, such Borrower or such Guarantor agrees not to charge the Agent for storage thereof), to take possession of any of the Collateral or the proceeds thereof, to sell or otherwise dispose of the same, and the Agent shall have the right to conduct such sales on the premises of the Borrowers or the Guarantors, without charge therefor, and such sales may be adjourned from time to time in accordance with applicable law. The Agent may sell, lease or dispose of Collateral for cash, credit, or any combination thereof, and shall have the right to appoint a receiver of the Accounts and the Inventory or any part thereof, and the right to apply the proceeds therefrom as set forth in SECTION 6.03(b)

Remedies with Respect to Collateral. (a) Upon the occurrence of an Event of Default, the Agent or any representative of Agent shall have the rights and remedies of a secured party under the UCC in effect on the date thereof (regardless of whether the same has been enacted in the jurisdiction where the rights or remedies are asserted), including, without limitation, the right to require the Borrowers and the Guarantors Borrower to assemble the Collateral, at the Borrowers' Borrower's expense, and make it available to the Agent at a place designated by the Agent which is reasonably convenient to both parties, and enter any premises where any of the Collateral shall be located and to keep and store the Collateral on said premises until sold (and if said premises be the property of any Borrower, any Guarantor the Borrower or any of its Subsidiaries, such the Borrower or such Guarantor agrees not to charge the Agent for storage thereof), to take possession of any of the Collateral or the proceeds thereof, to sell or otherwise dispose of the same, and the Agent shall have the right to conduct such sales on the premises of the Borrowers or the GuarantorsBorrower, without charge therefor, and such sales may be adjourned from time to time in accordance with applicable law. The Agent may sell, lease or dispose of Collateral for cash, credit, or any combination thereof, and shall have the right to appoint a receiver of the Accounts Receivable Collateral and the Inventory Collateral or any part thereof, and the right to apply the proceeds therefrom as set forth in SECTION 6.03(b)6.03