Common use of Ancillary Rights Clause in Contracts

Ancillary Rights. Subject to the Intercreditor Agreement, upon the occurrence and continuation of an Event of Default, in addition to all other rights of Secured Party hereunder, without notice, demand, or declaration of default, all of which are hereby expressly waived by Pledgor, Secured Party may proceed by a suit or suits in equity or at law (a) for the seizure and sale of the Security or any part thereof, (b) for the specific performance of any covenant or agreement contained in this Security Agreement, the Note or any of the other Transaction Documents or in aid of the execution of any power herein granted, (c) for the foreclosure or sale of the Security or any part thereof under the judgment or decree of any court of competent jurisdiction, or (d) for the enforcement of any other appropriate legal or equitable remedy.

Appears in 2 contracts

Samples: Security and Pledge Agreement (Intelect Communications Inc), Security Agreement (Intelect Communications Inc)

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Ancillary Rights. Subject to the Intercreditor Agreement, upon Upon the occurrence and continuation of an Event of Default, in addition to all other rights of Secured Party hereunder, without notice, demand, or declaration of default, all of which are hereby expressly waived by Pledgor, Secured Party may proceed by a suit or suits in equity or at law (a) for the seizure and sale of the Security Collateral or any part thereof, (b) for the specific performance of any covenant or agreement contained in this Security Pledge Agreement, the Note or any of the other Transaction Documents or in aid of the execution of any power herein granted, (c) for the foreclosure or sale of the Security Collateral or any part thereof under the judgment or decree of any court of competent jurisdiction, or (d) for the enforcement of any other appropriate legal or equitable remedy.

Appears in 2 contracts

Samples: Borrower Pledge Agreement (Intelect Communications Systems LTD), Pledge Agreement (Intelect Communications Inc)

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Ancillary Rights. Subject to the Intercreditor Agreement, upon the occurrence and continuation of an Event of Default, in addition to all other rights of Secured Party hereunder, without notice, demand, or declaration of default, all of which are hereby expressly waived by Pledgor, Secured Party may proceed by a suit or suits in equity or at law (a) for the seizure and sale of the Security Collateral or any part thereof, (b) for the specific performance of any covenant or agreement contained in this Security Pledge Agreement, the Note or any of the other Transaction Documents or in aid of the execution of any power herein granted, (c) for the foreclosure or sale of the Security Collateral or any part thereof under the judgment or decree of any court of competent jurisdiction, or (d) for the enforcement of any other appropriate legal or equitable remedy.

Appears in 1 contract

Samples: Borrower Pledge Agreement (Intelect Communications Inc)

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