Common use of Use and Possession of Certain Premises Clause in Contracts

Use and Possession of Certain Premises. Upon the occurrence of a Default, the Bank shall be entitled to occupy and use any premises owned or leased by the Debtor where any of the Collateral or any records relating to the Collateral are located until the Secured Obligations are paid or the Collateral is removed therefrom, whichever first occurs, without any obligation to pay the Debtor for such use and occupancy.

Use and Possession of Certain Premises. Upon the occurrence of a an Event of Default, the Bank shall be entitled to occupy and use any premises owned or leased by the Debtor Borrower where any of the Collateral or any records relating to the Collateral are located until the Secured Obligations are paid or the Collateral is removed therefrom, whichever first occurs, without any obligation to pay the Debtor Borrower for such use and occupancy.

Use and Possession of Certain Premises. Upon the occurrence of a Default, the Bank shall be entitled to occupy and use any premises owned or leased by the Debtor where any of the Collateral or any records relating to the Collateral are located until the Secured Obligations are paid or the Collateral is removed therefrom, whichever first occurs, without any obligation to pay the Debtor for such use and occupancy.