Action Regarding Collateral Sample Clauses

Action Regarding Collateral. If an Event of Default shall occur and be continuing, Lender, without demand of performance or other demand or notice of any kind to Borrower or any other person, all of which are hereby expressly waived, may forthwith apply the cash, if any, then held by it as part of the Collateral relating to any Loan to the payment of any of the Obligations. If there shall be no such cash or the cash so applied shall not be sufficient to pay in full all Obligations, Lender may thereafter collect, receive, appropriate, retain and realize upon the Collateral, or any part thereof, and may forthwith sell, assign, give an option or options to purchase, contract to sell, or otherwise dispose of and deliver the Collateral, or any part thereof, in one or more parcels at such public or private sale or sales, at such place or places, to such potential buyers at such price or prices and upon such other terms and conditions as Lender may deem best, for cash or on credit or for future delivery without assumption of any credit risk, with the right of Lender upon any such sale or sales to purchase all or any part of the Collateral so sold. In connection with any sale of the Collateral, Borrower will cooperate with Lender to provide potential buyers of the Collateral with the necessary information that they need to make a decision to purchase the Collateral, including without limitation (A) providing potential buyers with information about the Pledged ABS or any other similar asset backed securities issued in connection with a securitization involving Borrower, TFC or an Affiliate thereof (the "Other ABS") and any Demand Notes, (B) providing potential buyers with records relating to the Pledged ABS, the Other ABS and the assets securing such Pledged ABS and Other ABS and relating to any Demand Note, and (C) providing potential buyers with access to personnel responsible for originating and servicing the assets securing the Pledged ABS and the Other ABS. Upon any sale, transfer or other disposition of the Collateral pursuant hereto Lender shall have the right to deliver, assign and transfer to the transferee thereof the Collateral so sold. Each transferee upon any such transfer or other disposition shall hold the property thereby acquired by it absolutely free from any claim or right of any kind, including without limitation any equity or rights of redemption, of Borrower, who hereby specifically waives all rights of redemption, stay or appraisal which it has or may have under any rule...
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Action Regarding Collateral. Bank at any time and in its discretion, --------------------------- may remove Collateral to such place as Bank may deem advisable, or require Obligor to assemble and make all Collateral available to such place as Bank may direct, and upon any Event of Default, may sell, re- sell, assign, transfer, lease and deliver or otherwise deal or decline to deal with all or any part of the Collateral, in each case without advertisement, in one or more sales, or such price or prices, and upon such commercially reasonable terms (such as requiring any purchaser of any stock to represent that such purchase is for investment purposes only) either for cash or credit or future delivery as Bank may elect. Obligor authorizes Bank to grant extensions or modifications of terms to or adjust claims of, or make compromise with debtors, guarantors or any other parties with respect to Accounts or any securities, guaranties or insurance or other obligations compromising Collateral without notice to or consent of Obligor, without affecting the Obligations and without liability of the Bank to account. Obligor waives notices of non-payment, protest and all other notices to which Obligor might otherwise be entitled. The proceeds of any such liquidation less all costs and expenses incurred in connection therewith, and, at the option of the Bank, less any prior lien claims, shall be applied against the Obligations in the order that Bank in its sole discretion shall decide. Obligor shall remain liable to Bank for any deficiency.
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Action Regarding Collateral. If an Event of Default shall occur, SBRC, without demand of performance or other demand or notice of any kind to Borrower or any other person, all of which are hereby expressly waived, may forthwith apply the cash, if any, then held by it as part of the Collateral relating to any Loan to the payment of any of the Obligations, and, if there shall be no such cash or the cash so applied shall not be sufficient to pay in full all such Obligations, may thereafter collect, receive, appropriate, retain and realize upon the Collateral, or any part thereof, and may forthwith sell, assign, give an option or options to purchase, contract to sell, or otherwise dispose of and deliver the Collateral, or any part thereof, in one or more parcels at such public or private sale or sales, at such place or places, at such price or prices and upon such other terms and conditions as SBRC may deem best (provided, however, that SBRC shall act in all respects in a commercially reasonable manner), for cash or on credit or for future
Sample 1
Action Regarding Collateral. 19 (b) Deficiency......................................................... 20 (c) Private Sale....................................................... 20 (d) Application of Proceeds............................................ 20 (e) Default Rate of Interest........................................... 21 (f) Attorney-in-Fact................................................... 21 (g) Payments on Collateral to Assignor................................. 21 (h) Cross-Collateralization; Right of Set-Off.......................... 21
Sample 1
Action Regarding Collateral. If an Event of Default shall occur, MLMCI, without demand of performance or other demand or notice of any kind to Assignor or any other person, all of which are hereby expressly waived, may forthwith apply the cash, if any, then held by it as part of the Collateral relating to any Loan to the payment of any of the Obligations, and, if there shall be no such cash or the cash so applied shall not be sufficient to pay in full all such Obligations, may thereafter collect, receive, appropriate, retain and realize upon the Collateral, or any part thereof, and may forthwith sell, assign, give an option or options to purchase, contract to
Sample 1
Action Regarding Collateral. Secured Party, at any time after the --------------------------- occurrence of an Event of Default (and subject to any applicable cure periods), may collect, receive, appropriate and realize upon any Collateral or any part thereof. Upon any Event of Default, Secured Party may sell, re-sell, assign, transfer, lease and deliver or otherwise deal or dispose of or decline to deal with all or any part of the Collateral, in each case in accordance with the Code, at public or private sale or sales, at such price or prices as it may deem best, and upon such terms and conditions as it may deem advisable, either for cash or credit or future delivery without assumption of any credit risk as Secured Party may elect. Secured Party shall apply the net proceeds of any such collection, recovery, receipt, appropriation, realization or sale, after deducting all reasonable costs and expenses incurred therein or incidental to the care or safekeeping of any of such Collateral or relating to such Collateral or the rights of Secured Party hereunder, including, without limitation, reasonable attorneys' fees and disbursements, to the payment in whole or in part of the Obligations, and only after such application and after the payment by Secured Party of any other amount required by any provision of law, including, without limitation, Section 9-504(l)(c) of the Code, need Secured Party account for the surplus, if any, to Grantor.
Sample 1

Related to Action Regarding Collateral

  • Information Regarding Collateral All information supplied to Administrative Agent by or on behalf of any Loan Party with respect to any of the Collateral (in each case taken as a whole with respect to any particular Collateral) is accurate and complete in all material respects.

  • Agreements Regarding Collateral and Field Examination Reports (ll) Lien Releases;

  • Information Regarding the Collateral (a) Furnish to the Administrative Agent at least thirty (30) days prior written notice of any change in: (i) any Loan Party’s name or in any trade name used to identify it in the conduct of its business or in the ownership of its properties; (ii) the location of any Loan Party’s chief executive office, its principal place of business, any office in which it maintains books or records relating to Collateral owned by it or any office or facility at which Collateral owned by it is located (including the establishment of any such new office or facility); (iii) any Loan Party’s organizational structure or jurisdiction of incorporation or formation; or (iv) any Loan Party’s Federal Taxpayer Identification Number or organizational identification number assigned to it by its state of organization. The Loan Parties agree not to effect or permit any change referred to in the preceding sentence unless all filings have been made under the UCC or otherwise that are required in order for the Collateral Agent to continue at all times following such change to have a valid, legal and perfected first priority security interest in all the Collateral for its own benefit and the benefit of the other Credit Parties.

  • Concerning Collateral Agent (a) The Collateral Agent has been appointed as collateral agent pursuant to the Credit Agreement. The actions of the Collateral Agent hereunder are subject to the provisions of the Credit Agreement. The Collateral Agent shall have the right hereunder to make demands, to give notices, to exercise or refrain from exercising any rights, and to take or refrain from taking action (including the release or substitution of the Pledged Collateral), in accordance with this Agreement and the Credit Agreement. The Collateral Agent may employ agents and attorneys-in-fact in connection herewith and shall not be liable for the negligence or misconduct of any such agents or attorneys-in-fact selected by it in good faith. The Collateral Agent may resign and a successor Collateral Agent may be appointed in the manner provided in the Credit Agreement. Upon the acceptance of any appointment as the Collateral Agent by a successor Collateral Agent, that successor Collateral Agent shall thereupon succeed to and become vested with all the rights, powers, privileges and duties of the retiring Collateral Agent under this Agreement, and the retiring Collateral Agent shall thereupon be discharged from its duties and obligations under this Agreement. After any retiring Collateral Agent’s resignation, the provisions hereof shall inure to its benefit as to any actions taken or omitted to be taken by it under this Agreement while it was the Collateral Agent.

  • Specific Collateral None of the Collateral is or is proceeds or products of farm products, as-extracted collateral, health-care-insurance receivables or timber to be cut.

  • Collateral Examination Agent shall have completed Collateral examinations and received appraisals, the results of which shall be satisfactory in form and substance to Lenders, of the Receivables, Inventory, General Intangibles, and Equipment of each Borrower and all books and records in connection therewith;

  • Additional Collateral With respect to any new Subsidiary (other than any type of Subsidiary referred to in the following parenthetical so long as it qualifies as such or is subject to the restrictions referred to therein) created or acquired by the Borrower or any of its Subsidiaries (which shall be deemed to have occurred in the event that any Non-Recourse Subsidiary, Shell Subsidiary, Excluded Acquired Subsidiary or Regulated Subsidiary ceases to qualify as such, it being understood that such Subsidiaries will not be required to become Subsidiary Guarantors until such time), promptly (a) execute and deliver to the Administrative Agent such amendments to the Guarantee and Collateral Agreement as the Administrative Agent deems necessary or advisable to grant to the Administrative Agent, for the benefit of the Lenders, or the Borrower, as the case may be, a perfected first priority security interest, subject to Liens not prohibited by Section 7.3, in (i) the Equity Interests of such new Subsidiary and all other property of the type that would constitute Collateral of such new Subsidiary (including Intercompany Obligations) that are held by Holdings, the Borrower or any of its Subsidiaries, limited in the case of the Equity Interests of any Foreign Subsidiary, to 66% of the total outstanding Equity Interests of such Foreign Subsidiary, and (ii) any Collateral with respect to such new Subsidiary as described in the Guarantee and Collateral Agreement, (b) deliver to the Administrative Agent the certificates, if any, representing such Equity Interests (constituting securities within the meaning of Section 8-102(a)(15) of the New York UCC), and any intercompany notes or other instruments evidencing Intercompany Obligations and all other rights and interests constituting Collateral, together with, as applicable, undated powers, instruments of transfer and endorsements, in blank, executed and delivered by a duly authorized officer of Holdings, the Borrower or such Subsidiary, as the case may be, and (c) except in the case of a Foreign Subsidiary, cause such new Subsidiary (i) to deliver an Assumption Agreement with respect to the Guarantee and Collateral Agreement and (ii) to take such actions necessary or advisable to grant to the Administrative Agent for the benefit of the Lenders a perfected first priority security interest, subject to Liens not prohibited by Section 7.3, in the Collateral described in the Guarantee and Collateral Agreement with respect to such new Subsidiary, including the filing of Uniform Commercial Code financing statements in such jurisdictions as may be required by the Guarantee and Collateral Agreement or by law or as may be requested by the Administrative Agent.

  • Additional Collateral and Guaranties To the extent not delivered to the Administrative Agent on or before the Closing Date (including in respect of after-acquired property and Persons that become Subsidiaries of any Loan Party after the Closing Date), each Group Member shall, promptly, do each of the following, unless otherwise agreed by the Administrative Agent:

  • Default; Collateral (a) Upon the occurrence and continuance of a Default or Event of Default, the Lenders agree to promptly confer in order that Required Lenders or the Lenders, as the case may be, may agree upon a course of action for the enforcement of the rights of the Lenders; and the Administrative Agent shall be entitled to refrain from taking any action (without incurring any liability to any Person for so refraining) unless and until the Administrative Agent shall have received instructions from Required Lenders. All rights of action under the Loan Documents and all right to the Collateral, if any, hereunder may be enforced by the Administrative Agent and any suit or proceeding instituted by the Administrative Agent in furtherance of such enforcement shall be brought in its name as the Administrative Agent without the necessity of joining as plaintiffs or defendants any other Lender, and the recovery of any judgment shall be for the benefit of the Lenders (and, with respect to Lender Hedging Agreements, Affiliates, if applicable) subject to the expenses of the Administrative Agent. In actions with respect to any property of the Borrower or any other Obligor, the Administrative Agent is acting for the ratable benefit of each Lender (and, with respect to Lender Hedging Agreement, Affiliates, if applicable). Any and all agreements to subordinate (whether made heretofore or hereafter) other indebtedness or obligations of Borrower to the Obligations shall be construed as being for the ratable benefit of each Lender (and, with respect to Lender Hedging Agreement, Affiliates, if applicable).

  • Collateral The Collateral for this Note includes the Funding Agreement and the Guarantee specified on the face hereof.

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