Common use of Acceleration-Obligations Clause in Contracts

Acceleration-Obligations. Lionhart, LHI and GEP may, from time to time at any time(s), declare any and all Obligations, that have not been theretofore performed and discharged, immediately due and required to be performed and discharged immediately, without further notice or demand, or presentment, protest, notice of protest or notice of dishonor (of which Compost hereby expressly waives any such notice, demand, presentment, protest, notice of protest or notice of dishonor), whereupon all such Obligations, as accelerated under this Section 10.02, shall become due and immediately required to be performed and discharged completely, and Lionhart, LHI and GEP shall the right immediately to foreclose upon the lien created by the Mortgage against the Mortgaged Miami Site (as provided and otherwise contemplated under the Mortgage), or any part thereof; to enforce and use lawful self-help or foreclose upon every other security interest in any and all Collateral as otherwise created or confirmed under this Agreement, or any part thereof; to enforce, use lawful self-help or foreclose upon every security interest in any of the pledged Collateral or any other Collateral under the Security Agreement, the Compost Stock Pledge Agreement (Miami Common Stock) and/or the Compost Stock Pledge Agreement (Bedminster Common Stock), or any part thereof; and/or, to commence or institute any action, suit or other proceeding which Lionhart, LHI and/or GEP may deem necessary or proper to protect their respective interests.

Appears in 1 contract

Samples: Compost Stock Pledge Agreement (Compost America Holding Co Inc)

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Acceleration-Obligations. Lionhart, LHI and GEP may, from time to time at any time(s), declare any and all Obligations, that have not been theretofore performed and discharged, immediately due and required to be performed and discharged immediately, without further notice or demand, or presentment, protest, notice of protest or notice of dishonor (of which Compost Miami hereby expressly waives any such notice, demand, presentment, protest, notice of protest or notice of dishonor), whereupon all such Obligations, as accelerated under this Section 10.02, shall become due and immediately required to be performed and discharged completely, and Lionhart, LHI and GEP shall the right immediately to foreclose upon the lien created by the Mortgage against the Mortgaged Miami Site (as provided and otherwise contemplated under the Mortgage), or any part thereof; to enforce and use lawful self-help or foreclose upon every other security interest in any and all Collateral as otherwise created or confirmed under this Agreement, or any part thereof; to enforce, use lawful self-help or foreclose upon every security interest in any of the pledged Collateral or any other Collateral under the Security Agreement, the Compost Stock Pledge Agreement (Miami Compost Common Stock) and/or the Compost Stock Pledge Agreement (Bedminster Miami Common Stock), or any part thereof; and/or, to commence or institute any action, suit or other proceeding which Lionhart, LHI and/or GEP may deem necessary or proper to protect their respective interests.

Appears in 1 contract

Samples: Compost Stock Pledge Agreement (Compost America Holding Co Inc)

Acceleration-Obligations. Lionhart, LHI and GEP may, from time to time at any time(s), declare any and all Obligations, that have not been theretofore performed and discharged, immediately due and required to be performed and discharged immediately, without further notice or demand, or presentment, protest, notice of protest or notice of dishonor (of which Compost and Mestre each hereby expressly waives any such notice, demand, presentment, protest, notice of protest or notice of dishonor), whereupon all such Obligations, as accelerated under this Section 10.02, shall become due and immediately required to be performed and discharged completely, and Lionhart, LHI and GEP shall the right immediately to foreclose upon the lien created by the Mortgage against the Mortgaged Miami Site (as provided and otherwise contemplated under the Mortgage), or any part thereof; to enforce and use lawful self-help or foreclose upon every other security interest in any and all Collateral as otherwise created or confirmed under this Agreement, or any part thereof; to enforce, use lawful self-help or foreclose upon every security interest in any of the pledged Collateral or any other Collateral under the Security Agreement, the Compost Stock Pledge Agreement (Miami Compost Common Stock) and/or the Compost Stock Pledge Agreement (Bedminster Common Stock), or any part thereof; and/or, to commence or institute any action, suit or other proceeding which Lionhart, LHI and/or GEP may deem necessary or proper to protect their respective interests.

Appears in 1 contract

Samples: Compost Stock Pledge Agreement (Compost America Holding Co Inc)

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Acceleration-Obligations. Lionhart, LHI and GEP may, from time to time at any time(s), declare any and all Obligations, that have not been theretofore performed and discharged, immediately due and required to be performed and discharged immediately, without further notice or demand, or presentment, protest, notice of protest or notice of dishonor (of which Compost Compost, Miami and Bedminster hereby expressly waives waive any such notice, demand, presentment, protest, notice of protest or notice of dishonor), whereupon all such Obligations, as accelerated under this Section 10.029.02, shall become immediately due and immediately required to be performed and discharged completelypayable in full, and Lionhart, LHI and GEP shall the right immediately to foreclose upon the lien created by the Mortgage against the Mortgaged Miami Site (as provided and otherwise contemplated defined under the Mortgage); to enforce the security interests granted under this Agreement, and to use self-help and to recover, possess, repossess and otherwise dispose of the Collateral, and to otherwise exercise any and all rights or any part thereofremedies that a secured party is or may be entitled to exercise and assert under Article 9 of the Uniform Commercial Code of and as adopted by the State of New Jersey; to enforce and use lawful self-help or otherwise foreclose upon every other security interest in any and all Collateral as otherwise created or confirmed under this Agreement, or any part thereof; to enforce, enforce and otherwise use lawful self-help and to recover, possess or foreclose upon every security interest in any of the pledged Collateral or any other Collateral under the Security AgreementCompost Stock Pledge Agreement (Compost Common Stock), the Compost Stock Pledge Agreement (Miami Common Stock) and/or the Compost Stock Pledge Agreement (Bedminster Common Stock), or any part thereof; and/or, to commence or institute any action, suit or other proceeding which Lionhart, LHI and/or GEP may deem necessary or proper to protect their respective interests.

Appears in 1 contract

Samples: Pledge and Security Agreement Security Agreement (Compost America Holding Co Inc)

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