Common use of Sale or Disposition of Collateral Clause in Contracts

Sale or Disposition of Collateral. Sell or otherwise dispose of the Collateral (in its then condition or after further manufacturing, processing or preparation thereof, utilizing in connection therewith, without charge to or liability of the Lender therefor, any of the Borrower’s assets) at a public or a private sale, as the Lender deems advisable, for cash or credit; provided, however, that the Borrower shall be credited with the net proceeds of such sale only when such proceeds are actually received by the Lender, and the Lender may become the purchaser at any sale if permissible under applicable law. Upon the occurrence of an Event of Default, the Borrower shall, if the Lender requests, assemble the Collateral and make it available to the Lender at a place or places to be designated by the Lender which is reasonably convenient to the Lender;

Sale or Disposition of Collateral. Sell or otherwise dispose of the Collateral (in its then condition or after further manufacturing, processing or preparation thereof, utilizing in connection therewith, without charge to or liability of the Lender Bank therefor, any of the Borrower’s 's assets) at a public or a private sale, as the Lender Bank deems advisable, for cash or credit; provided, however, that the Borrower shall be credited with the net proceeds of such sale only when such proceeds are actually received by the Lender, Bank and the Lender Bank may become the purchaser at any sale if permissible under applicable law. Upon In the occurrence event of an Event of DefaultDefault by the Borrower under this Agreement, the Borrower shall, if the Lender Bank requests, assemble the Collateral and make it available to the Lender Bank at a place or places to be designated by the Lender Bank which is reasonably convenient to the LenderBank;