Delivery of Collateral, Power of Sale, etc Sample Clauses

Delivery of Collateral, Power of Sale, etc. If Mortgagee should elect to foreclose upon and against the security interest created in and by this Agreement, Mortgagor shall, upon demand of Mortgagee, deliver to Mortgagee all or any part of the Collateral at such time or times and to such airport within the continental United States of America as Mortgagee may specify; and Mortgagee is hereby authorized and empowered, in accordance with applicable Law and without being responsible for loss or damage to such Collateral incurred other than solely by reason of Mortgagee's willful misconduct, to enter upon any premises where the Collateral or any part thereof may be located and take possession of and remove the same. Mortgagee may thereafter sell and dispose of, or cause to be sold and disposed of, all or any part of the Collateral at one or more public or private sales, at such places and times and on such terms and conditions as Mortgagee may deem fit in good faith, with or without any previous demand to Mortgagor or any other person, or advertisement of any such sale or other disposal upon notice to Mortgagor (it being understood and agreed that such provision of notice to Mortgagor shall not be deemed to limit or otherwise restrict Mortgagee's rights and remedies hereunder or under any other Operative Document or agreement); and for the aforesaid purpose, any other notice of sale, any advertisement and other notice or demand, any right of equity of redemption and any obligation of a prospective purchaser to inquire as to the power and authority of Mortgagee to sell or the application by Mortgagee of the proceeds of sale or otherwise that would otherwise be required by, or available to Mortgagor under, applicable Law are hereby expressly waived by Mortgagor to the fullest extent permitted by such Law. In the event that any mandatory requirement of applicable Law shall obligate Mortgagee to give different, additional or prior notice to Mortgagor of any of the foregoing acts, Mortgagor hereby agrees that, to the extent permitted by applicable Law, a written notice sent to it by mail or by telecopy, so as reasonably to be expected to be delivered to Mortgagor at least ten (10) Business Days before the date of any such act shall be deemed to be reasonable notice of such act and, specifically, reasonable notification of the time after which any private sale or other disposition intended to be made hereunder is to be made.