Bank’s Remedies Upon Default. Upon the occurrence and during the continuance of an Event of Default or upon notice to Bank by Grantor of termination of this Guaranty in accordance with Section 1 hereof, Bank shall have the right to exercise all such rights as a secured party under the California Uniform Commercial Code as it, in its sole judgment, shall deem necessary or appropriate. After the disposal of any of the Pledged Collateral, Bank may deduct all reasonable legal and other expenses and attorney’s fees for protecting its interests and enforcing its remedies under the Guaranty, the Loan Agreement and this Agreement and shall apply the residue of the proceeds to, or hold as a reserve against, the Guarantor Obligations in such manner as Bank in its sole discretion shall determine, and shall pay the balance, if any, to Grantor.
Bank’s Remedies Upon Default. In the event of an uncured default of Supermarket, Bank may:
Bank’s Remedies Upon Default. If an Event of Default is in effect, the Bank may (a) declare all or any of the Obligations to be immediately due and payable by giving notice thereof to the Borrower, whereupon such Obligations shall become immediately due and payable, without presentment, demand, protest or further notice of any kind, all of which are hereby waived by the Borrower; (b) take immediate possession of the Collateral; (c) sell or otherwise dispose of all or any Collateral, at public or private sale or sales in lots or in bulk, all as the Bank in its sole discretion deems advisable, or realize on Collateral through direct collection to the extent permitted by applicable law; and (d) exercise any other rights or remedies available at law, in equity or by agreement.
Bank’s Remedies Upon Default. Upon the occurrence of an Event of Default, Bank shall have the right to exercise all such rights as a secured party under the California Uniform Commercial Code as it, in its sole judgment, shall deem necessary or appropriate. After the disposal of any of the Pledged Collateral, Bank may deduct all reasonable legal and other expenses and attorney’s fees for protecting its interests and enforcing its remedies under the Master Agreement and this Agreement and shall apply the residue of the proceeds to, or hold as a reserve against, the Obligations in such manner as Bank in its sole discretion shall determine, and shall pay the balance, if any, to Pledgor or otherwise in accordance with applicable law.
Bank’s Remedies Upon Default. Upon the occurrence of an Event of Default, Bank shall have the right to exercise all such rights as a secured party under the Code as it, in its sole judgment, shall deem necessary or appropriate.
Bank’s Remedies Upon Default. Upon the occurrence of any Event of Default, Bank may, at its discretion and without prior notice to Pledgor or Borrower, declare any or all of the Indebtedness to be immediately due and payable, and shall have the right to exercise any and all such rights and remedies available to it as a secured party under the Uniform Commercial Code and other applicable law as Bank, in its sole judgment, shall deem necessary or appropriate, including, without limitation, the right to institute legal proceedings to foreclose upon the lien and security interest granted by this Agreement, to recover judgment for all amounts then due and owing as Indebtedness, and to collect the same out of any Collateral or the proceeds of any sale of it. “Uniform Commercial Code” means the Act No. 174 of the Michigan Public Acts of 1962, as amended, revised or replaced from time to time, including, without limit, as amended by Act No. 348 of the Michigan Public Acts of 2000. After the disposal of any of the Collateral, Bank may deduct all reasonable legal and other expenses and attorneys’ fees for protecting its interests and enforcing its remedies under or in respect of the Indebtedness and this Agreement and shall apply the residue of the proceeds to, or hold as a reserve against, the Indebtedness in such manner as Bank in its sole discretion shall determine, and shall pay the balance, if any, to Pledgor or otherwise, in accordance with applicable law. Nothing in this Agreement is intended, nor shall it be construed, to preclude Bank from pursuing any other remedy provided by law for the collection of the Indebtedness or for the recovery of any other sum to which Bank may be entitled for the breach of this Agreement by Pledgor. Nothing in this Agreement shall reduce or release in any way any rights or security interests of Bank contained in any existing agreement between Borrower and/or Pledgor and Bank. Pledgor shall remain liable for any deficiency, which it shall pay to Bank immediately upon demand. Pledgor agrees that Bank shall be under no obligation to accept any noncash proceeds in connection with any sale or disposition of Collateral unless failure to do so would be commercially unreasonable. If Bank agrees in its sole discretion to accept noncash proceeds (unless the failure to do so would be commercially unreasonable), Bank may ascribe any commercially reasonable value to such proceeds. Without limiting the foregoing, Bank may apply any discount factor in determining the pres...
Bank’s Remedies Upon Default. If an Event of Default exists, the Bank has and may exercise from time to time all of the rights and remedies of a secured party under the UCC or other applicable law and all other legal and equitable rights and remedies to which the Bank may be entitled, all of which rights and remedies shall be cumulative and in addition to any other rights or remedies contained in this Agreement or any of the other Credit Documents. Without limiting the generality of the foregoing, if an Event of Default exists, the Bank may: (a) declare all or any of the Obligations to be immediately due and payable, whereupon such Obligations shall become immediately due and payable, without presentment, demand, protest or further notice of any kind, all of which are hereby waived by the Borrowers; (b) take immediate possession of the Collateral, or require the Borrowers to assemble the Collateral at the Borrowers’ expense and make it available to the Bank at a place designated by the Bank which is reasonably convenient to the Bank and the Borrowers; (c) sell or otherwise dispose of all or any Collateral in its then condition, or after any further manufacturing or processing thereof, at public or private sale or sales in lots or in bulk, all as the Bank in its sole discretion deems advisable, or realize on the Collateral through direct collection to the extent permitted by applicable law; and (d) exercise any other rights or remedies available at law, in equity or by agreement.
Bank’s Remedies Upon Default. A. Upon the occurrence and during the continuance of an Event of Default, Bank shall have the right, subject to applicable foreign law with respect to Foreign Subsidiaries, to exercise all such rights as a secured party under the Uniform Commercial Code of the State of Illinois as it, in its sole judgment, shall deem necessary or appropriate, including the right to sell all or any part of the Pledged Collateral at one or more public or private sales upon ten (10) days’ written notice to Pledgor, and any such sale or sales may be made for cash, upon credit, or for future delivery, and in connection therewith, Bank may grant options, provided that any such terms or options shall, in the best judgment of Bank, be extended only in order to obtain the best possible price.
Bank’s Remedies Upon Default. (a) Upon the occurrence and during the continuance of an Event of Default, Bank shall have the right to exercise all such rights as a secured party under the Uniform Commercial Code of the Commonwealth of Massachusetts as it, in its sole judgment, shall deem necessary or appropriate, including the right to sell all or any part of the Pledged Collateral at one or more public or private sales upon ten (10) days’ written notice to Pledgor, and any such sale or sales may be made for cash, upon credit, or for future delivery, and in connection therewith, Bank may grant options, provided that any such terms or options shall, in the best judgment of Bank, be extended only in order to obtain the best possible price.
Bank’s Remedies Upon Default. Upon the occurrence of an Event of Default, Bank shall have the right to exercise all such rights as a secured party under the North Carolina Uniform Commercial Code as it, in its sole judgment, shall deem necessary or appropriate. After the disposal of any of the Pledged Collateral, Bank may deduct all reasonable legal and other expenses and attorney’s fees for protecting its interests and enforcing its remedies under the Loan Agreement and this Pledge Agreement and shall apply the residue of the proceeds to, or hold as a reserve against, the Obligations in such manner as Bank in its sole discretion shall determine, and shall pay the balance, if any to Pledgor.
