Entry Upon Premises and Access to Information. Upon acceleration of the Obligations, the Agent shall have the right (i) to cause the Collateral to remain on any Borrower's premises, without any obligation to pay rent, (ii) to enter upon the premises of any Borrower where the Collateral is located or any other place or places where the Collateral is believed to be located and kept, without any obligation to pay rent, to render the Collateral useable or saleable, or to remove the Collateral therefrom to the premises of the Agent or any agent of the Agent, at the Borrowers' expense, for such time as the Agent may desire in order effectively to collect or liquidate the Collateral, and (iii) to require the Borrowers to assemble the Collateral and make it available to the Agent at a place or places to be designated by the Agent. Upon acceleration of the Obligations, the Agent shall have the right to take possession of each Borrower's original books and records, to obtain access to Borrower's data processing equipment, computer hardware and software relating to the Collateral and to use all of the foregoing and the information contained therein in any manner the Agent deems appropriate; and the Agent shall have the right to notify postal authorities to change the address for delivery of each Borrower's mail to an address designated by the Agent and to receive, open and dispose of all mail addressed to the Borrowers and to take possession of all checks or other original remittances contained in such mail.
Appears in 3 contracts
Samples: Loan and Security Agreement (Lois/Usa Inc), Loan and Security Agreement (Lois/Usa Inc), Loan and Security Agreement (Lois/Usa Inc)
Entry Upon Premises and Access to Information. Upon acceleration of the Obligations, the Agent shall have the right (i) to cause the Collateral to remain on any the Borrower's premises, without any obligation to pay rent, (ii) to enter upon the premises of any the Borrower where the Collateral is located or any other place or places where the Collateral is believed to be located and kept, without any obligation to pay rent, to render the Collateral useable or saleable, or to remove the Collateral therefrom to the premises of the Agent or any agent of the Agent, at the Borrowers' Borrower's expense, for such time as the Agent may desire in order effectively to collect or liquidate the Collateral, and (iii) to require the Borrowers Borrower to assemble the Collateral and make it available to the Agent at a place or places to be designated by the Agent. Upon acceleration of the Obligations, the Agent shall have the right to take possession of each the Borrower's original books and records, to obtain access to Borrower's data processing equipment, computer hardware and software relating to the Collateral and to use all of the foregoing and the information contained therein in any manner the Agent deems appropriate; and the Agent shall have the right to notify postal authorities to change the address for delivery of each the Borrower's mail to an address designated by the Agent and to receive, open and dispose of all mail addressed to the Borrowers Borrower and to take possession of all checks or other original remittances contained in such mail.
Appears in 2 contracts
Samples: Loan and Security Agreement (Plainwell Inc), Loan and Security Agreement (Brothers Gourmet Coffees Inc)
Entry Upon Premises and Access to Information. Upon acceleration of the ObligationsLiabilities, the Agent Lender shall have the right (i) to cause the Collateral to remain on any Borrower's premises, without any obligation to pay rent, (ii) to enter upon the premises of any Borrower where the Collateral is located or any other place or places where the Collateral is believed to be located and kept, without any obligation to pay rent, to render the Collateral useable or saleable, or to remove the Collateral therefrom to the premises of the Agent Lender or any agent of the AgentLender, at the Borrowers' expense, for such time as the Agent Lender may desire in order effectively to collect or liquidate the Collateral, and (iii) to require the Borrowers to assemble the Collateral and make it available to the Agent Lender at a place or places to be designated by the AgentLender. Upon acceleration of the ObligationsLiabilities, the Agent Lender shall have the right to take possession of each Borrower's Borrowers' original books and records, to obtain access to each Borrower's data processing equipment, computer hardware and software relating to the Collateral and to use all of the foregoing and the information contained therein in any manner the Agent Lender deems appropriate; and the Agent Lender shall have the right to notify postal authorities to change the address for delivery of each Borrower's mail to an address designated by the Agent Lender and to receive, open and dispose of all mail addressed to the respective Borrowers and to take possession of all checks or other original remittances contained in such mail.
Appears in 1 contract
Samples: Secured Credit Agreement (Diplomat Direct Marketing Corp)
Entry Upon Premises and Access to Information. Upon acceleration of the ObligationsLiabilities, the Agent Lender shall have the right (i) to cause the Collateral to remain on any Borrower's premises, without any obligation to pay rent, (ii) to enter upon the premises of any Borrower where the Collateral is located or any other place or places where the Collateral is believed to be located and kept, without any obligation to pay rent, to render the Collateral useable or saleable, or to remove the Collateral therefrom to the premises of the Agent Lender or any agent of the AgentLender, at the Borrowers' expense, for such time as the Agent Lender may desire in order effectively to collect or liquidate the Collateral, and (iii) to require the Borrowers to assemble the Collateral and make it available to the Agent Lender at a place or places to be designated by the AgentLender. Upon acceleration of the ObligationsLiabilities, the Agent Xxxxxx shall have the right to take possession of each Borrower's Borrowers' original books and records, to obtain access to each Borrower's data processing equipment, computer hardware and software relating to the Collateral and to use all of the foregoing and the information contained therein in any manner the Agent Lender deems appropriate; and the Agent Lender shall have the right to notify postal authorities to change the address for delivery of each Borrower's mail to an address designated by the Agent Lender and to receive, open and dispose of all mail addressed to the respective Borrowers and to take possession of all checks or other original remittances contained in such mail.
Appears in 1 contract