Common use of BANK'S REMEDIES AFTER DEFAULT Clause in Contracts

BANK'S REMEDIES AFTER DEFAULT. In the event of any default Bank may do any one or more of the following: A. Declare any Indebtedness immediately due and payable, without notice or demand. B. Enforce the security interest given hereunder pursuant to the Uniform Commercial Code and any other applicable law. C. Enforce the security interest of Bank in any deposit account of Borrower maintained with Bank by applying such account to the Indebtedness. D. Require Borrower to assemble the Collateral, including the Books and Records, and make them available to Bank at a place designated by Bank. E. Enter upon the property where any Collateral, including any Books and Records, are located and take possession of such Collateral and such Books and Records, and use such property (including any buildings and facilities) and any of Borrower's equipment, if Bank deems such use necessary or advisable in order to take possession of, hold, preserve, process, assemble, prepare for sale or lease, market for sale or lease, sell or lease, or otherwise dispose of, any Collateral. X. Xxxxx extensions and compromise or settle claims with respect to the Collateral for less than face value, all without prior notice to Borrower. G. Use or transfer any of Borrower's rights and interests in any Intellectual Property now owned or hereafter acquired by Borrower, if Bank deems such use or transfer necessary or advisable in order to take possession of, hold, preserve, process, assemble, prepare for sale or lease, market for sale or lease, sell or lease, or otherwise dispose of, any Collateral. Borrower agrees that any such use or transfer shall be without any additional consideration to Borrower. As used in this paragraph, "Intellectual Property" includes, but is not limited to, all trade secrets, computer software, service marks, trademarks, trade names, trade styles, copyrights, patents, applications for any of the foregoing, customer lists, working drawings, instructional manuals, and rights in processes for technical manufacturing, packaging and labeling, in which Borrower has any right or interest, whether by ownership, license, contract or otherwise. H. Have a receiver appointed by any court of competent jurisdiction to take possession of the Collateral. I. Take such measures as Bank may deem necessary or advisable to take possession of, hold, preserve, process, assemble, insure, prepare for sale or lease, market for sale or lease, sell or lease, or otherwise dispose of, any Collateral, and Borrower hereby irrevocably constitutes and appoints Bank as Borrower's attorney-in-fact to perform all acts and execute all documents in connection therewith.

BANK'S REMEDIES AFTER DEFAULT. In the event of any default Bank may do any one or more of the following: A. Declare any Indebtedness immediately due and payable, without notice or demand. B. Enforce the security interest given hereunder pursuant to the Uniform Commercial Code and any other applicable law. C. Enforce the security interest of Bank in any deposit account of Borrower maintained with Bank by applying such account to the Indebtedness. D. Require Borrower to assemble the Collateral, including the Books and Records, and make them available to Bank at a place designated by Bank. E. Enter upon the property where any Collateral, including any Books and Records, are located and take possession of such Collateral and such Books and Records, and use such property (including any buildings and facilities) and any of Borrower's equipment, if Bank deems such use necessary or advisable in order to take possession of, hold, preserve, process, assemble, prepare for sale or lease, market for sale or lease, sell or lease, or otherwise dispose of, any Collateral. X. Xxxxx extensions and compromise or settle claims with respect to the Collateral for less than face value, all without prior notice to Borrower. G. Use or transfer any of Borrower's rights and interests in any Intellectual Property now owned or hereafter acquired by Borrower, if Bank deems such use or transfer necessary or advisable in order to take possession of, hold, preserve, process, assemble, prepare for sale or lease, market for sale or lease, sell or lease, or otherwise dispose of, ; any Collateral. Borrower agrees that any such use or transfer shall be he without any additional consideration to Borrower. As used in this paragraph, "Intellectual Property" includes, but is not limited to, all trade secrets, computer software, service marks, trademarks, trade names, trade styles, copyrights, patents, applications for any of the foregoing, customer lists, working drawings, instructional manuals, and rights in processes for technical manufacturing, packaging and labelinglabelling, in which Borrower has any right or interest, whether by ownership, license, contract or otherwise. H. Have a receiver appointed by any court of competent jurisdiction to take possession of the Collateral. I. L. Take such measures as Bank may deem necessary or advisable to take possession of, hold, preserve, process, assemble, insure, prepare for sale or lease, market for sale or lease, sell or lease, or otherwise dispose of, any Collateral, and Borrower hereby irrevocably constitutes and appoints Bank as Borrower's attorney-in-fact to perform all acts and execute all documents in connection therewith.

BANK'S REMEDIES AFTER DEFAULT. In the event of any default Bank may do any one or more of the following: A. Declare any Indebtedness immediately due and payable, without notice or demand. B. Enforce the security interest given hereunder pursuant to the Uniform Commercial Code and any other applicable law. C. Enforce the security interest of Bank in any deposit account of Borrower maintained with Bank by applying such account to the Indebtedness. D. Require Borrower to assemble the Collateral, including the Books and Records, and make them available to Bank at a place designated by Bank. E. Enter upon the property where any Collateral, including any Books and Records, Records are located and take possession of such Collateral and such Books and Records, and use such property (including any buildings and facilities) and any of Borrower's ’s equipment, if Bank deems such use necessary or advisable in order to take possession of, hold, preserve, process, assemble, prepare for sale or lease, market for sale or lease, sell or lease, or otherwise dispose of, any Collateral. X. Xxxxx extensions and compromise or settle claims with respect to the Collateral for less than face value, all without prior notice to Borrower. G. Use or transfer any of Borrower's ’s rights and interests in any Intellectual Property now owned or hereafter acquired by Borrower, if Bank deems such use or transfer necessary or advisable in order to take possession of, hold, preserve, process, assemble, prepare for sale or lease, market for sale or lease, sell or lease, or otherwise dispose of, any Collateral. Borrower agrees that any such use or transfer shall be without any additional consideration to Borrower. As used in this paragraph, "“Intellectual Property" ” includes, but is not limited to, all trade secrets, computer software, service marks, trademarks, trade names, trade styles, copyrights, patents, applications for any of the foregoing, customer lists, working drawings, instructional manuals, and rights in processes for technical manufacturing, packaging and labeling, labelling in which Borrower has any right or interest, whether by ownership, license, contract or otherwise. H. Have a receiver appointed by any court of competent jurisdiction to take possession of the Collateral. I. Take such measures as Bank may deem necessary or advisable to take possession of, hold, preserve, process, assemble, insure, prepare for sale or lease, market for sale or lease, sell or lease, or otherwise dispose of, any Collateral, and Borrower hereby irrevocably constitutes and appoints Bank as Borrower's ’s attorney-in-fact to perform all acts and execute all documents in connection therewith.

BANK'S REMEDIES AFTER DEFAULT. In the event of any default Bank may do any one or more of the following: A. Declare any Indebtedness immediately due and payable, without notice or demand. B. Enforce the security interest given hereunder pursuant to the Uniform Commercial Code and any other applicable law. C. Enforce the security interest of Bank in any deposit account of Borrower maintained with Bank by applying such account to the Indebtedness. D. Require Borrower to assemble the Collateral, including the Books and Records, and make them available to Bank at a place designated by Bank. E. Enter upon the property where any Collateral, including any Books and Records, are located and take possession of such Collateral and such Books and Records, and use such property (including any buildings and facilities) and any of Borrower's equipment, if Bank deems such use necessary or advisable in order to take possession of, hold, preserve, process, assemble, prepare for sale or lease, market for sale or lease, sell or lease, or otherwise dispose of, any Collateral. X. F. Xxxxx extensions xxxensions and compromise or settle claims with respect to the Collateral for less than face value, all without prior notice to Borrower. G. Use or transfer any of Borrower's rights and interests in any Intellectual Property now owned or hereafter acquired by Borrower, if Bank deems such use or transfer necessary or advisable in order to take possession of, hold, preserve, process, assemble, prepare for sale or lease, market for sale or lease, sell or lease, or otherwise dispose of, any Collateral. Borrower agrees that any such use or transfer shall be without any additional consideration to Borrower. As used in this paragraph, "Intellectual Property" includes, but is not limited to, all trade secrets, computer software, service marks, trademarks, trade names, trade styles, copyrights, patents, applications for any of the foregoing, customer lists, working drawings, instructional manuals, and rights in processes for technical manufacturing, packaging and labelinglabelling, in which Borrower has any right or interest, whether by ownership, license, contract or otherwise. H. Have a receiver appointed by any court of competent jurisdiction to take possession of the Collateral. I. Take such measures as Bank may deem necessary or advisable to take possession of, hold, preserve, process, assemble, insure, prepare for sale or lease, market for sale or lease, sell or lease, or otherwise dispose of, any Collateral, and Borrower hereby irrevocably constitutes and appoints Bank as Borrower's attorney-in-fact to perform all acts and execute all documents in connection therewith. J. Require Borrower to segregate all collections and proceeds of the Collateral so that they are capable of identification and deliver daily such collections and proceeds to Bank in kind. K. Require Borrower to obtain Bank's prior written consent to any sale, lease, agreement to sell or lease, or other disposition of any inventory. L. Notify any account debtors, any buyers of the Collateral, or any other persons of Bank's interest in the Collateral. M. Require Borrower to direct all account debtors to forward all payments and proceeds of the Collateral to a post office box under Bank's exclusive control. N. Demand and collect any payments and proceeds of the Collateral. In connection therewith Borrower irrevocably authorizes Bank to endorse or sign Borrower's name on all checks, drafts, collections, receipts and other

BANK'S REMEDIES AFTER DEFAULT. In the event of any default Bank may do any one or more of the following: A. Declare any Indebtedness immediately due and payable, without notice or demand. B. Enforce the security interest given hereunder pursuant to the Uniform Commercial Code and any other applicable law. C. Enforce the security interest of Bank in any deposit account of Borrower maintained with Bank by applying such account to the Indebtedness. D. Require Borrower to assemble the Collateral, including the Books and Records, and make them available to Bank at a place designated by Bank. E. Enter upon the property where any Collateral, including any Books and Records, are located and take possession of such Collateral and such Books and Records, and use such property (including any buildings and facilities) and any of Borrower's ’s equipment, if Bank deems such use necessary or advisable in order to take possession of, hold, preserve, process, assemble, prepare for sale or lease, market for sale or lease, sell or lease, or otherwise dispose of, any Collateral. X. Xxxxx extensions and compromise or settle claims with respect to the Collateral for less than face value, all without prior notice to Borrower. G. Use or transfer any of Borrower's ’s rights and interests in any Intellectual Property now owned or hereafter acquired by Borrower, if Bank deems such use or transfer necessary or advisable in order to take possession of, hold, preserve, process, assemble, prepare for sale or lease, market for sale or lease, sell or lease, or otherwise dispose of, any Collateral. Borrower agrees that any such use or transfer shall be without any additional consideration to Borrower. As used in this paragraph, "“Intellectual Property" ” includes, but is not limited to, all trade secrets, computer software, service marks, trademarks, trade names, trade styles, copyrights, patents, applications for any of the foregoing, customer lists, working drawings, instructional manuals, and rights in processes for technical manufacturing, packaging and labelinglabelling, in which Borrower has any right or interest, whether by ownership, license, contract or otherwise. H. Have a receiver appointed by any court of competent jurisdiction to take possession of the Collateral. I. Take such measures as Bank may deem necessary or advisable to take possession of, hold, preserve, process, assemble, insure, prepare for sale or lease, market for sale or lease, sell or lease, or otherwise dispose of, any Collateral, and Borrower hereby irrevocably constitutes and appoints Bank as Borrower's ’s attorney-in-fact to perform all acts and execute all documents in connection therewith.