Common use of Remedies with Respect to Collateral Clause in Contracts

Remedies with Respect to Collateral. (a) Upon the occurrence and during the continuance of an Event of Default, Lender shall have the rights and remedies of a secured party under the UCC in effect on the date thereof. Notwithstanding the foregoing or anything contained herein to the contrary, Lender shall, upon the occurrence and during the continuance of an Event of Default, be entitled to exercise all rights and remedies available to it under the Program Documents and at law, including without limitation its right to withdraw Collections from the Dollar Collection Account and the Euro Collection Account and apply them as set forth in this Agreement. (b) Proceeds of any of the Collateral and payments by Borrower during the existence of an Event of Default received by Lender shall be applied by Lender in accordance with the provisions of Section 2.08(b). In the event that the proceeds of the Collateral are not sufficient to pay the Obligations in full, Borrower (and the Guarantor) shall remain liable for any deficiency. (c) Unless and except to the extent expressly provided for to the contrary herein, the rights of Lender specified herein shall be in addition to, and not in limitation of, Lender's rights under the UCC, or any other statute or rule of law or equity, or under any other provision of any of the Program Documents, or under the provisions of any other document, instrument or other writing executed by Borrower or any third party in favor of Lender, all of which may be exercised successively or concurrently.

Remedies with Respect to Collateral. (a) Upon the occurrence and during the continuance of an Event of Defaulta Termination Event, Lender the Agent shall have the rights and remedies of a secured party under the UCC in effect on the date thereof; provided that the Agent may not sell, lease or dispose of the Collateral unless Borrower shall fail to pay when due (i) any portion or all of the principal of the Aggregate Advances within two (2) Business Days after the Final Payment Date, or (ii) any interest on the Aggregate Advances and such failure shall continued unremedied for 5 Business Days. Notwithstanding the foregoing or anything contained herein to the contrary, Lender the Agent shall, upon the occurrence and during the continuance of an Event of Defaulta Termination Event, be entitled to exercise all rights and remedies available to it under the Program Documents and at law, including without limitation its right to withdraw Collections from the Dollar Collection Account Accounts and the Euro Collection Account Lock-Box and apply them as set forth in this Agreement. (b) Proceeds of any of the Collateral and payments by Borrower during the existence of an a Termination Event of Default received by Lender the Agent shall be applied by Lender the Agent in accordance with the provisions of Section 2.08(b). In the event that the proceeds of the Collateral are not sufficient to pay the Obligations in full, Borrower (and the Guarantor) shall remain liable for any deficiency. (c) Unless and except to the extent expressly provided for to the contrary herein, the rights of Lender the Agent specified herein shall be in addition to, and not in limitation of, Lender's Agent’s rights under the UCC, or any other statute or rule of law or equity, or under any other provision of any of the Program Documents, or under the provisions of any other document, instrument or other writing executed by Borrower or any third party in favor of Lender, the Agent all of which may be exercised successively or concurrently.