Rights and Powers of Lender Clause Samples

The "Rights and Powers of Lender" clause defines the specific authorities and entitlements granted to the lender under a loan agreement. Typically, this clause outlines the lender's ability to enforce security interests, demand repayment, inspect collateral, or take certain actions if the borrower defaults. For example, it may allow the lender to accelerate the loan or take possession of secured assets. The core function of this clause is to clearly establish the lender's legal rights and remedies, thereby protecting the lender's interests and providing a framework for addressing borrower non-compliance or default.
Rights and Powers of Lender. Lender, after an Event of Default and during the continuation thereof, without liability to Pledgor may: (a) take control of proceeds, including securities received as dividends or by reason of splits; (b) release the Collateral in its possession to Pledgor, temporarily or otherwise; (c) take control of funds generated by the Collateral, such as cash dividends, interest and proceeds, and use same to reduce any part of the Indebtedness; (d) exercise all other rights which an owner of such Collateral may exercise; and (e) transfer any of the Collateral or evidence thereof into its own name or that of its nominee. Lender shall not be liable for failure to collect any account or instruments, or for any act or omission on the part of Lender, its officers, agents or employees, except for its or their own willful misconduct or gross negligence. The foregoing rights and powers of Lender will be in addition to, and not a limitation upon, any rights and powers of Lender given by law, elsewhere in this Agreement, or otherwise.
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Rights and Powers of Lender. Upon the occurrence of an Event of Default, Lender, without liability to Borrower, shall be entitled to obtain from any Person information regarding Borrower or Borrower's business, which information any such Person also may furnish without liability to Borrower. Lender shall not be liable for any act or omission on the part of the lender, its officers, agents or employees, except willful misconduct. The foregoing rights and powers of Lender will be in addition to, and not a limitation upon, any rights and powers of Lender given by Law, elsewhere in this Agreement, or otherwise.
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Rights and Powers of Lender. Lender and Borrowers shall have and are hereby granted rights to examine and make copies of the Collateral Loans and related documents in Custodian's possession. Custodian is hereby directed to permit Lender and its agents and representatives to, and by Custodian's execution hereof Custodian agrees to permit Lender and its agents and representatives to, exercise such rights on the premises of Custodian during normal business hours with reasonable prior notice and subject to Custodian's ability to enforce its rules regarding security and personal conduct and Custodian may, at its 80 sole discretion, deny entry to any Person violating such rules. All rights and powers of Lender hereunder shall be assigned to any successor or assign of Lender under the Loan Agreement upon receipt by Custodian of notice of such assignment from Lender. Upon payment in full of the Indebtedness and termination of the agreement of Lender to make loans under the Loan Agreement, Lender shall have no further rights or obligations under this Custodial Agreement.
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Rights and Powers of Lender. The Lender may, without obligation to do so, exercise at any time and from time to time one or more of the following rights and powers with respect to any or all of the Collateral: (i) subject to the applicable limitations of Paragraph 8, accept in its discretion other property of Borrower in exchange for all or part of the Collateral and release Collateral to Borrower to the extent necessary to effect such exchange, and in such event the other property received in the exchange shall become part of the Collateral hereunder; (ii) perform such acts as are necessary to preserve and protect the Collateral and the rights, powers and remedies granted with respect to such Collateral by this Agreement; and (iii) transfer record ownership of the Collateral to the Lender or its nominee and receive, endorse and give receipt for, or collect by legal proceedings or otherwise, distributions or dividends made or paid with respect to the Collateral, provided and only if there exists at the time an outstanding event of default under Paragraph 9 of this Agreement. Any cash sums which the Lender may so receive shall be applied to the payment of the Note and any other indebtedness secured hereunder, in such order of application as the Lender deems appropriate. Any remaining cash shall be paid over to Borrower. Any action by the Lender pursuant to the provisions of this Paragraph 6 may be taken without notice to Borrower. Expenses reasonably incurred in connection with such action shall be payable by Borrower and form part of the indebtedness secured hereunder as provided in Paragraph 11.
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Rights and Powers of Lender. Lender, before or after default, without liability to Debtor may: obtain from any person information regarding Debtor or Debtor's business, which information any such person also may furnish without liability to Debtor; require Debtor to give possession or control of any Collateral to Lender; indorse as Debtor's agent any instruments, documents or chattel paper in the Collateral or representing proceeds of the Collateral; contact account debtors directly to verify information furnished by Debtor; take control of proceeds; release the Collateral in its possession to any Debtor, temporarily or otherwise; reject as unsatisfactory any property hereafter offered by Debtor as Collateral; set standards from time to time to govern what may be used as after-acquired Collateral; take control of funds generated by the Collateral, such as cash dividends, interest and proceeds or refunds from insurance, and use same to reduce any part of the Obligations; and demand, collect, convert, redeem, receipt for, settle, compromise, adjust, ▇▇▇ for, foreclose or realize upon the Collateral, in its own name or in the name of Debtor, as Lender may determine. Lender shall not be liable for failure to collect any account or instruments, or for any act or omission on the part of Lender, its officers, agents or employees, except for its or their own willful misconduct or gross negligence. The foregoing rights and powers of Lender will be in addition to, and not a limitation upon, any rights and powers of Lender given by law, elsewhere in this Agreement, or otherwise. If Debtor fails to maintain any required insurance, to the extent permitted by applicable law Lender may (but is not obligated to) purchase single interest insurance coverage for the Collateral which insurance may at Lender's option (i) protect only Lender and not provide any remuneration or protection for Debtor directly and (ii) provide coverage only after the Obligation has been declared due as herein provided. The premiums for any such insurance purchased by Lender shall be a part of the Obligations and shall bear interest at the maximum rate permitted by law.
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Rights and Powers of Lender. Lender, after an Event of Default and during the continuation thereof, without liability to Pledgor may: take control of proceeds, including securities received as dividends or by reason of splits; release the Collateral in its possession to any Pledgor, temporarily or otherwise; take control of funds generated by the Collateral, such as cash dividends, interest and proceeds, and use same to reduce any part of the Indebtedness; exercise all other rights which an owner of such Collateral may exercise; and transfer any of the Collateral or evidence thereof into its own name or that of its nominee. Lender shall not be liable for failure to collect any account or instruments, or for any act or omission on the part of Lender, its officers, agents or THERMO CREDIT, LLC - UNITED ESYSTEMS, INC. employees, except for its or their own willful misconduct or gross negligence. The foregoing rights and powers of Lender will be in addition to, and not a limitation upon, any rights and powers of Lender given by law or elsewhere in this Agreement.
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Rights and Powers of Lender 
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Related to Rights and Powers of Lender

  • Purpose and Powers of the Company The Company is organized for the purpose of carrying on any lawful activity for which limited liability companies may be formed under the Act. The Company shall possess and may exercise all of the powers and privileges granted by the Act or by any other law or by this Agreement, together with any powers incidental thereto, so far as such powers and privileges are necessary or convenient to the conduct, promotion or attainment of the business purposes or activities of the Company contemplated by this Agreement.

  • Rights and Powers Creditor may, without obligation to do so, exercise one or more of the following rights and powers with respect to the Collateral: (a) Accept in its discretion, but subject to the applicable limitations of Section 8, other property of the Borrower in exchange for all or part of the Collateral and release Collateral to the Borrower to the extent necessary to effect such exchange, and in such event the money, property or securities received in the exchange shall be held by the Creditor as substitute security for the Note and all other indebtedness secured hereunder; (b) Perform such acts as are necessary to preserve and protect the Collateral and the rights, powers and remedies granted with respect to such Collateral by this Agreement; and (c) Transfer record ownership of the Collateral to Creditor or its nominee and receive, endorse and give receipt for, or collect by legal proceedings or otherwise, dividends or other distributions made or paid with respect to the Collateral, but only if there exists at the time an outstanding event of default under Section 9 of this Agreement. Any action by Creditor pursuant to the provisions of this Section 3 may be taken without notice to Borrower. Expenses reasonably incurred in connection with such action shall be payable by the Borrower and form part of the indebtedness secured hereunder, as provided in Section 11. So long as there exists no event of default under Section 9 of this Agreement, Borrower may exercise all Member voting rights and be entitled to receive any and all regular cash distributions paid on the Collateral. Accordingly, until such time as an event of default occurs under this Agreement, all proxy statements and other Member materials pertaining to the Collateral shall be delivered to the Borrower at the address indicated below. Any cash sums that Creditor may receive in the exercise of its rights and powers under this Section 3 shall be applied to the payment of the Note and any other indebtedness secured hereunder, in such order of application, as Creditor deems appropriate. Any remaining cash shall be paid over to the Borrower.

  • Purposes and Powers of the Trust The purpose of the trust, as created hereunder, is to engage in the following activities: (a) to sell the Certificates to the Company in exchange for the Mortgage Loans; (b) to enter into and perform its obligations under this Agreement; (c) to engage in those activities that are necessary, suitable or convenient to accomplish the foregoing or are incidental thereto or connected therewith; and (d) subject to compliance with this Agreement, to engage in such other activities as may be required in connection with conservation of the Trust Fund and the making of distributions to the Certificateholders. The trust is hereby authorized to engage in the foregoing activities. Notwithstanding the provisions of Section 11.01, the trust shall not engage in any activity other than in connection with the foregoing or other than as required or authorized by the terms of this Agreement while any Certificate is outstanding, and this Section 2.08 may not be amended, without the consent of the Certificateholders evidencing a majority of the aggregate Voting Rights of the Certificates.

  • Bank Accounts and Powers of Attorney Set forth in Schedule 3.21 is an accurate and complete list showing (a) the name of each bank in which the Company has an account, credit line or safe deposit box and the names of all Persons authorized to draw thereon or to have access thereto, and (b) the names of all Persons, if any, holding powers of attorney from the Company and a summary statement of the terms thereof.

  • Appointment and Powers Subject to the terms and conditions hereof, each of the Secured Parties hereby appoints Norwest Bank Minnesota, National Association as the Collateral Agent with respect to the Series 1993-A Collateral and the related Collateral subsequently specified in a Series Supplement, and Norwest Bank Minnesota, National Association hereby accepts such appointment and agrees to act as Collateral Agent with respect to the Series 1993-A Collateral, and upon execution of any Series Supplement, shall be deemed to accept such appointment, and agree to act as Collateral Agent with respect to such Collateral, in each case, for the Secured Parties, to maintain custody and possession of such Collateral (except as otherwise provided hereunder) and to perform the other duties of the Collateral Agent in accordance with the provisions of this Agreement. Each Secured Party hereby authorizes the Collateral Agent to take such action on its behalf, and to exercise such rights, remedies, powers and privileges hereunder, as the Controlling Party may direct and as are specifically authorized to be exercised by the Collateral Agent by the terms hereof, together with such actions, rights, remedies, powers and privileges as are reasonably incidental thereto. The Collateral Agent shall act upon and in compliance with the written instructions of the Controlling Party delivered pursuant to this Agreement promptly following receipt of such written instructions; provided that the Collateral Agent shall not act in accordance with any instructions (i) which are not authorized by, or in violation of the provisions of, this Agreement, (ii) which are in violation of any applicable law, rule or regulation or (iii) for which the Collateral Agent has not received reasonable indemnity. Receipt of such instructions shall not be a condition to the exercise by the Collateral Agent of its express duties hereunder, except where this Agreement provides that the Collateral Agent is permitted to act only following and in accordance with such instructions.