SALE/ASSIGNMENT. Borrower acknowledges that Lender shall have the right in its sole and absolute discretion during the term of the Loan (i) to sell and assign the Loan or participation interests in the Loan and/or (ii) to effect a so-called securitization of the Loan, in each instance in such manner and on such terms and conditions as Lender shall deem to be appropriate. Borrower shall cooperate, and shall cause each Responsible Party (if any), indemnitor and other person or party associated or connected with the Loan or the collateral therefor to cooperate, in all respects with Lender in connection with such sale, assignment, participation and/or securitization, and shall, in connection therewith, execute and deliver such estoppels, certificates, instruments and documents as may be requested by Lender. Borrower grants to Lender, and shall cause each Responsible Party (if any), indemnitor and other person or party associated or connected with the Loan or the collateral therefor to grant to Lender, the right to distribute on a confidential basis financial and other information concerning Borrower, each such Responsible Party (if any), indemnitor and other person or party and the property encumbered by this Instrument and other pertinent information with respect to the Loan to any party who has indicated to Lender an interest in entering into such sale, assignment and/or securitization of the Loan. If Borrower shall default in the performance of its obligations as set forth in this paragraph, and if such default shall not be remedied by Borrower within ten (10) days after notice by ▇▇▇▇▇▇, Lender shall have the right in its discretion to declare the Debt immediately due and payable.
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Sources: Mortgage and Security Agreement (Paper Warehouse Inc)
SALE/ASSIGNMENT. Borrower and each Guarantor acknowledges that Lender shall have the right in its sole and absolute discretion during the term of the Loan (i) to sell and assign the Loan or participation interests in the Loan Loan, and/or (ii) to effect a so-called securitization of the Loan, in each instance in such manner and on such terms and conditions as Lender shall deem to be appropriate. Borrower and each Guarantor shall reasonably cooperate, and shall cause each Responsible Party (if any), indemnitor and other person or party associated or connected with the Loan or the collateral therefor to cooperateat Lender's expense, in all respects with Lender in connection with such sale, assignment, participation and/or securitization, and shall, in connection therewith, execute and deliver such estoppels, estoppel certificates, instruments and documents as may be reasonably requested by Lender. Borrower and each Guarantor grants to Lender, and shall cause each Responsible Party (if any), indemnitor and other person or party associated or connected with the Loan or the collateral therefor to grant to Lender, Lender the right to distribute on a confidential basis financial and other information concerning Borrower, each such Responsible Party (if any), indemnitor and other person or party Guarantor and the property encumbered by this Instrument Project and other pertinent information with respect to the Loan to any party who has indicated to Lender an interest in entering into such sale, assignment and/or securitization of the Loan. If Borrower or any Guarantor shall default in the performance of its its, his or her obligations as set forth in this paragraphSection, and if such default shall not be remedied by Borrower or such Guarantor within ten (10) days after written notice by ▇▇▇▇▇▇Lender, Lender shall have the right in its discretion to declare the Debt Loan immediately due and payable.
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