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

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

Appears in 1 contract

Sources: Pledge and Security Agreement (United Stationers Supply Co)

Use and Possession of Certain Premises. Upon the occurrence and during the continuance of a Roto-Rooter Default, the Collateral Agent shall be entitled to occupy and use any premises owned or leased by the Grantors where any of the Collateral or any records relating to the Collateral are located until the non-contingent Secured Obligations are paid in full or the Collateral is removed therefrom, whichever first occurs, without any obligation to pay any Grantor for such use and occupancy.

Appears in 1 contract

Sources: Pledge and Security Agreement (Roto-Rooter Inc)

Use and Possession of Certain Premises. Upon the occurrence and during the continuance of a an Event of Default, the Agent shall or its agents or representatives will be entitled to occupy and use any premises owned or leased by the Grantors Grantor where any of the Collateral or any records relating to the Collateral are located until the non-contingent Secured Obligations are paid in full or until the Collateral is removed therefrom, whichever first occursoccurs first, without any obligation to pay any the Grantor for such use and occupancy.

Appears in 1 contract

Sources: Security Agreement (International Wireless Communications Holdings Inc)