Common use of Compliance With Limitations and Restrictions Clause in Contracts

Compliance With Limitations and Restrictions. Grantor hereby agrees that in respect of any sale of any of the Collateral pursuant to the terms hereof, Lender is hereby authorized to comply with any limitation or restriction in connection with such sale as it may be advised by counsel is necessary in order to avoid any violation of applicable Legal Requirements, or in order to obtain any required approval of the sale or of the purchaser by any Governmental Authority or official, and Grantor further agrees that such compliance shall not, in and of itself, result in such sale being considered or deemed not to have been made in a commercially reasonable manner, nor shall Lender be liable or accountable to Grantor for any discount allowed by reason of the fact that such Collateral is sold in compliance with any such limitation or restriction.

Appears in 2 contracts

Samples: Security Agreement (Fulcrum Bioenergy Inc), Security Agreement (Fulcrum Bioenergy Inc)

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Compliance With Limitations and Restrictions. Grantor Grantors hereby agrees agree that in respect of any sale of any of the Collateral pursuant to the terms hereof, Lender Collateral Agent is hereby authorized to comply with any limitation or restriction in connection with such sale as it may be advised by counsel is necessary in order to avoid any violation of applicable Legal Requirements, or in order to obtain any required approval of the sale or of the purchaser by any Governmental Authority or official, and Grantor Grantors further agrees agree that such compliance shall not, in and of itself, result in such sale being considered or deemed not to have been made in a commercially reasonable manner, nor shall Lender Collateral Agent be liable or accountable to Grantor Grantors for any discount allowed by reason of the fact that such Collateral is sold in compliance with any such limitation or restriction.

Appears in 1 contract

Samples: Security Agreement (Renegy Holdings, Inc.)

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Compliance With Limitations and Restrictions. The Grantor hereby agrees that in respect of any sale of any of the Collateral pursuant to the terms hereof, Lender the Collateral Agent is hereby authorized to comply with any limitation or restriction in connection with such sale as it the Collateral Agent may be advised by counsel is necessary in order to avoid any violation of applicable Legal RequirementsLaws, or in order to obtain any required approval of the sale or of the purchaser by any Governmental Authority or official, and the Grantor further agrees that such compliance shall not, in and of itself, not result in such sale being considered or deemed not to have been made in a commercially reasonable manner, nor shall Lender the Collateral Agent be liable or accountable to the Grantor for any discount allowed by reason of the fact that such Collateral is sold in compliance with any such limitation or restriction.

Appears in 1 contract

Samples: Credit Agreement (Pacific Ethanol, Inc.)

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