Common use of Application of Collateral; Termination of Agreements Clause in Contracts

Application of Collateral; Termination of Agreements. Upon the occurrence of any Event of Default, TFC may, with or without proceeding with such sale or foreclosure or demanding payment or performance of the Obligations, without notice, terminate TFC's further performance under this Loan Agreement or any other agreement or agreements between TFC and SPV or any Affiliate of SPV, without further liability or obligation by TFC, and may also, at any time, appropriate and apply on any Obligations any and all Collateral in its (or the Account Agent's) possession, any and all balances, credits, deposits, accounts, reserves, indebtedness or other moneys due or owing to SPV held by TFC hereunder or under any other financing agreement or otherwise, whether accrued or not. Neither such termination, nor the termination of this Loan Agreement by lapse of time, the giving of notice or otherwise, shall absolve, release or otherwise affect the liability of SPV in respect of transactions prior to such termination, or affect any of the Liens, security interests, rights, powers and remedies of TFC, but they shall, in all events, continue until all of the Obligations and Parallel Claims are satisfied.

Application of Collateral; Termination of Agreements. Upon the occurrence of any Event of Default, TFC Lender may, with or without proceeding with such sale or foreclosure or demanding payment or performance of the Obligations, without notice, terminate TFCLender's further performance under this Loan Agreement or any other agreement or agreements between TFC Lender and SPV Borrower or any Affiliate of SPVBorrower, without further liability or obligation by TFCLender, and may also, at any time, appropriate and apply on any Obligations any and all Collateral in its (or the Account Lockbox Agent's) possession, any and all balances, credits, deposits, accounts, reserves, indebtedness or other moneys due or owing to SPV Borrower held by TFC Lender hereunder or under any other financing agreement or otherwise, whether accrued or not. Neither such termination, nor the termination of this Loan Agreement by lapse of time, the giving of notice or otherwise, shall absolve, release or otherwise affect the liability of SPV in Borrower with respect of to transactions prior to such termination, or affect any of the Liens, security interests, rights, powers and remedies of TFCLender, but they shall, in all events, continue until all of the Obligations and Parallel Claims are satisfied.

Application of Collateral; Termination of Agreements. Upon the occurrence of any Event of DefaultDefault until cured (if applicable) and the cure accepted by Lender , TFC Lender may, with or without proceeding with such sale or foreclosure or demanding payment or performance of the Obligations, without notice, terminate TFCLender's further performance under this Loan Agreement or any other agreement or agreements between TFC Lender and SPV or any Affiliate of SPVBorrower, without further liability or obligation by TFCLender, and may also, at any time, appropriate and apply on against any Obligations any and all Collateral in its (or the Account Agent's) possession, any and all balances, credits, deposits, accounts, reserves, indebtedness or other moneys due or owing to SPV Borrower held by TFC Lender hereunder or under any other financing agreement or otherwise, whether accrued or not. Neither such termination, nor the termination of this Loan Agreement by lapse of time, the giving of notice or otherwise, shall absolve, release or otherwise affect the liability of SPV Borrower in respect of transactions prior to such termination, or affect any of the Liens, security interests, rights, powers and remedies of TFCLender, but they shall, in all events, continue until all of the Obligations and Parallel Claims are satisfied.

Application of Collateral; Termination of Agreements. Upon the ----------------------------------------------------- occurrence and during the continuance of any Event of Default, TFC Lender may, with or without proceeding with such sale or foreclosure or demanding payment or performance of the ObligationsIndebtedness, without prior notice, terminate TFCLender's further performance under this Loan Agreement or any other agreement or agreements between TFC Lender and SPV or any Affiliate of SPVBorrower, without further liability or obligation by TFCLender, and may also, at any time, appropriate and apply on any Obligations Indebtedness any and all Collateral in its (or the Account Agent's) possession, any and all balances, credits, deposits, accounts, reserves, indebtedness or other moneys due or owing to SPV Borrower held by TFC Lender hereunder or under any other financing agreement or otherwise, whether accrued or not. Neither such termination, nor the termination of this Loan Agreement by lapse of time, the giving of notice or otherwise, shall absolve, release or otherwise affect the liability of SPV Borrower in respect of transactions prior to such termination, or affect any of the Liens, security interests, rights, powers and remedies of TFCLender, but they shall, in all events, continue until all of the Obligations and Parallel Claims are Indebtedness is satisfied.