Common use of Action Pending Disposition Clause in Contracts

Action Pending Disposition. Until Secured Party is able to effect a sale or other disposition of the Collateral, Secured Party shall have the right to use or take such action with respect to the Collateral, or any part thereof, as it deems appropriate for the purpose of preserving the Collateral or its value or for any other purpose deemed appropriate by Secured Party. Secured Party shall have no obligation to Debtor to maintain or preserve the rights of Debtor as against third parties with respect to the Collateral while the Collateral is in the possession of Secured Party. Secured Party may, if it so elects, seek the appointment of a receiver or keeper to take possession of the Collateral and to enforce any of Secured Party's remedies with respect to such appointment without prior notice or hearing.

Action Pending Disposition. Until Upon the occurrence of any of the events referred to in Section 4.1 above, until Secured Party is able to effect a sale or other disposition of the Collateral, Secured Party he shall have the right to use or take such action with respect to the Collateral, or any part thereof, as it he deems appropriate for the purpose of preserving the Collateral or its value or for any other purpose deemed appropriate by Secured Party. Secured Party shall have no obligation to Debtor to maintain or preserve the rights of Debtor as against third parties with respect to the Collateral while the Collateral is in the possession of Secured Party. Secured Party may, if it he so elects, seek the appointment of a receiver or keeper to take possession of the Collateral and to enforce any of Secured Party's ’s remedies with respect to such appointment without prior notice or hearing.