Certain Rights Upon Default Sample Clauses
Certain Rights Upon Default. In addition to any other rights accorded to the Agent and the Purchasers hereunder, upon the occurrence and during the continuation of an Event of Default:
(a) The Agent shall be entitled to receive any interest, cash dividends or other payments on the Collateral and, at the Agent’s option, to exercise in the Agent’s discretion all voting rights pertaining thereto as more fully set forth in Section 5 above. Without limiting the generality of the foregoing, the Agent shall have the right (but not the obligation) to exercise all rights with respect to the Collateral as if it were the sole and absolute owner thereof, including, without limitation, to vote and/or to exchange, at its sole discretion, any or all of the Collateral in connection with a merger, reorganization, consolidation, recapitalization or other readjustment concerning or involving the Collateral or the Pledgors or any Subsidiary of a Pledgor.
(b) Each Pledgor and each Subsidiary of a Pledgor shall take any action necessary or required or requested by the Agent in order to allow it fully to enforce the security interest in the Collateral hereunder and to realize thereon to the fullest extent possible, including, but not limited to, the filing of any claims with any court, liquidator, trustee, guardian, receiver or other like person or party.
(c) The Agent shall have all of the rights of a Purchaser under the Uniform Commercial Code and any other applicable law including the right to sell on such terms as it may deem appropriate any or all of the Collateral at one or more public or private sales upon at least five (5) Business Days written notice to the Pledgors of the time and place of any public sale and of the date on which the Collateral will first be offered for sale in the case of any private sale. The Agent shall have the right to bid thereat or purchase any part or all the Collateral in its own or a nominee’s name. The Agent shall have the right to apply the proceeds of the sale, after deduction for any costs and expenses of sale (including any liabilities incurred in connection therewith including reasonable attorneys’ fees and allocated costs of attorneys who are employees of the Agent), to the payment of the Secured Obligations, and to pay any remaining proceeds to the applicable Pledgor or its successors or assigns or to whomsoever may lawfully be entitled to receive the same or as a court of competent jurisdiction may direct, without further notice to or consent of such Pledgor and...
Certain Rights Upon Default. In addition to any other rights accorded to the Agent and the Senior Secured Parties hereunder, upon the occurrence and during the continuation of an Event of Default:
11.1.1 The Agent shall be entitled to receive any cash dividends or payments on the Collateral and, subject to Section 12 below, to exercise in the Agent's discretion all voting rights pertaining thereto as more fully set forth in Section 6 above. Without limiting -9- 360 the generality of the foregoing, subject to Section 12 below, the Agent shall have the right to exercise all rights with respect to the Collateral as if it were the sole and absolute owner thereof, including, without limitation, to vote and/or to exchange, at its sole discretion, any or all of the Collateral in connection with a merger, reorganization, consolidation, recapitalization or other readjustment concerning or involving the Collateral or the Borrower, any Subsidiary of the Borrower or the Pledgor.
Certain Rights Upon Default. In addition to any other rights accorded to the Agent and the Senior Secured Parties hereunder, upon the occurrence and during the continuation of an Event of Default:
11.1.1 The Agent shall be entitled to receive any cash dividends or payments on the Collateral and, subject to Section 12 below, to exercise in the Agent's discretion all voting rights pertaining thereto as more fully set forth in Section 6 above. Without limiting the generality of the foregoing, subject to Section 12 below, the Agent shall have the right to exercise all rights with respect to the Collateral as if it were the sole and absolute owner thereof, including, without limitation, to vote and/or to exchange, at its sole discretion, any or all of the Collateral in connection with a merger, reorganization, consolidation, recapitalization or other readjustment concerning or involving the Collateral or the Borrower, any Subsidiary of the Borrower or the Pledgor.
11.1.2 Each Pledgor shall take any action necessary or required or requested by the Agent in order to allow it fully to enforce the security interest in the Collateral hereunder and to realize thereon to the fullest extent possible, including, but not limited to, the filing of any claims with any court, liquidator, trustee, guardian, receiver or other like person or party.
11.1.3 The Agent shall have all of the rights of a secured party under the Uniform Commercial Code of Pennsylvania, as amended, and any other applicable law including the right to sell on such terms as it may deem appropriate any or all of the Collateral at one or more public or private sales upon at least ten (10) Business Days' written notice to applicable -9- 318 Pledgor of the time and place of any public sale and of the date on which the Collateral will first be offered for sale in the case of any private sale. Agent shall have the right to bid thereat or purchase any part or all the Collateral in its own or a nominee's name (subject to applicable FCC or PUC requirements or restrictions). The Agent shall have the right to apply the proceeds of the sale, after deduction for any costs and expenses of sale (including any liabilities incurred in connection therewith including reasonable attorneys' fees and allocated costs of attorneys who are employees of the Agent), to the payment of the Senior Secured Obligations in any manner or order which the Agent, in its sole discretion, may elect (whether pursuant to the Credit Agreement or otherwise), to the payment o...
Certain Rights Upon Default. 71 SECTION 12.6 Attorney-in-Fact................................................71
Certain Rights Upon Default. In addition to any other rights accorded to the Trustee and the Holders hereunder, upon the occurrence and during the continuation of an Event of Default:
Certain Rights Upon Default. In addition to any other rights accorded to the Agent and the Senior Secured Parties hereunder, upon the occurrence and during the continuation of an Event of Default:
Certain Rights Upon Default. If an Event of Default shall occur and be continuing, subject to the enforceability of such rights under applicable law and as recognized by the courts of the jurisdiction in which any such proceeding is being conducted, the Trustee shall be entitled to:
(a) all of the rights and remedies with respect to the Collateral of a secured party under the Uniform Commercial Code (whether or not said Code is in effect in the jurisdiction where the rights and remedies are asserted) and such additional rights and remedies to which a secured party is entitled under the laws in effect in any jurisdiction where any rights and remedies hereunder may be asserted, including, without limitation, the right, to the maximum extent permitted by law, to exercise all powers of ownership pertaining to the Collateral as if the Trustee were the sole and absolute owner thereof (and the Company agrees to take all such action as may be appropriate to give effect to such right);
(b) exercise such rights and remedies under the Intercompany Bonds and the Intercompany Guarantees as if it were the holder or the beneficiary thereof; and
(c) the right to liquidate any Collateral held by the Trustee through one or more public or private sales or other dispositions with such notice, if any, as may be required under applicable law, free from any claim or right of any nature whatsoever of the Company, including any equity or right of redemption by the Company (with the Trustee having the right to purchase any or all of the Collateral to be sold) and to apply the proceeds (or the cash equivalent thereof) from the liquidation of the Collateral to any amounts payable by the Company with respect to any Secured Obligations in that order as the Trustee may elect.
Certain Rights Upon Default. In addition to any other rights accorded the Senior Secured Parties hereunder, upon the occurrence and during the continuation of an Event of Default: