Common use of Borrower’s Obligations Upon Default Clause in Contracts

Borrower’s Obligations Upon Default. Upon the request of Lender after the occurrence of an Event of Default, Borrower will: (a) Assemble and make available to Lender the Collateral at such place(s) as Lender shall designate, segregating all Collateral so that each item is capable of identification; and (b) Subject to the rights of any previous lessor, permit Lender, by Lender's officers, employees, agents and representatives, to enter any premises where any Collateral is located, to take possession of the Collateral and to remove the Collateral, or to conduct any public or private sale of the Collateral, all without any liability of Lender for rent or other compensation for the use of Borrower's premises.