After Event of Default. 8.1 Upon the occurrence of any Event of Default, and during the continuance thereof, Agent shall have all of the rights and remedies of a secured party upon default under the UCC, in addition to which Agent may sell or otherwise dispose of the Collateral and/or enforce and collect the Collateral (including, without limitation, the liquidation of debt instruments or securities and the exercise of conversion rights with respect to convertible securities, whether or not such instruments or securities have matured, and whether or not any penalties or other charges are imposed on account of such action) for application towards (but not necessarily in complete satisfaction of) the Obligations. Grantor shall remain liable to Agent for any deficiency remaining following such application.
Appears in 6 contracts
Samples: Pledge and Security Agreement, Pledge and Security Agreement (TNP Strategic Retail Trust, Inc.), Pledge and Security Agreement (TNP Strategic Retail Trust, Inc.)
