Common use of Entry Upon Premises Clause in Contracts

Entry Upon Premises. Upon a Matured Default, U.S. Bank shall have the right to enter upon the premises of Borrower at which any of the Collateral is located (or is believed to be located) without incurring any obligation to pay rent to Borrower, or any other place or places where the Collateral is located (or is believed to be located) and kept, and remove the Collateral therefrom to the premises of U.S. Bank or any agent of U.S. Bank, for such time as U.S. Bank may desire, in order to effectively collect or liquidate the Collateral, or U.S. Bank may require Borrower to assemble the Collateral and make it available to U.S. Bank at a place or places to be designated by U.S. Bank which is reasonably convenient to both parties. Borrower expressly agrees that U.S. Bank may, if necessary to gain occupancy to the premises at which Collateral is located (or is believed to be located), without further notice to Borrower: (a) hire Borrower’s employees to assist in the loading and transportation of such Collateral; (b) utilize Borrower’s equipment for use in such operation; (c) cut or otherwise temporarily move or remove any barbed wire or other fencing or similar boundary-maintenance devices; and (d) pick or otherwise render inoperative any locks on any property not customarily inhabited by people. Borrower agrees that any such actions authorized by this Section shall be authorized and not a breach of the peace if U.S. Bank takes reasonable efforts to safeguard all of Borrower’s property.

Appears in 2 contracts

Samples: Loan and Security Agreement, Loan and Security Agreement (Inventure Foods, Inc.)

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Entry Upon Premises. Upon a Matured Default, U.S. Bank FBS Ag Credit shall have ------------------- the right to enter upon the premises of Borrower at which any of the Collateral is located (or is believed to be located) without incurring any obligation to pay rent to Borrower, or any other place or places where the Collateral is located (or is believed to be located) and kept, and remove the Collateral therefrom to the premises of U.S. Bank FBS Ag Credit or any agent of U.S. BankFBS Ag Credit, for such time as U.S. Bank FBS Ag Credit may desire, in order to effectively collect or liquidate the Collateral, or U.S. Bank FBS Ag Credit may require Borrower to assemble the Collateral and make it available to U.S. Bank FBS Ag Credit at a place or places to be designated by U.S. Bank FBS Ag Credit which is reasonably convenient to both parties. Borrower expressly agrees that U.S. Bank FBS Ag Credit may, if necessary to gain occupancy to the premises at which Collateral is located (or is believed to be located), without further notice to Borrower: (a) hire Borrower’s 's employees to assist in the loading and transportation of such Collateral; (b) utilize Borrower’s 's equipment for use in such operation; (c) cut or otherwise temporarily move or remove any barbed wire or other fencing or similar boundary-maintenance devices; and (d) pick or otherwise render inoperative any locks on any property not customarily inhabited by people. Borrower agrees that any such actions authorized by this Section shall be deemed to have been authorized and not a breach of the peace if U.S. Bank FBS Ag Credit takes reasonable efforts to safeguard all of Borrower’s 's property.

Appears in 1 contract

Samples: Loan and Security Agreement (Horizon Organic Holding Corp)

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Entry Upon Premises. Upon Subject to any applicable security clearance of a Matured DefaultGovernmental Authority or any other restrictions under applicable law, U.S. Bank Lender shall have the right to enter upon the premises of any Borrower at which any of the Collateral is located (or is believed to be located) without incurring any obligation to pay rent to any Borrower, or any other place or places where the Collateral is located (or is believed to be located) and kept, and remove the Collateral therefrom to the premises of U.S. Bank Lender or any agent of U.S. BankLender, for such time as U.S. Bank Lender may desire, in order to effectively collect or liquidate the Collateral, or U.S. Bank Lender may require Borrower Borrowers to assemble the Collateral and make it available to U.S. Bank Lender at a place or places to be designated by U.S. Bank Lender which is reasonably convenient to both parties. Each Borrower expressly agrees that U.S. Bank Lender may, if necessary to gain occupancy to the premises at which Collateral is located (or is believed to be located), without further notice to any Borrower: (a) hire any Borrower’s 's employees to assist in the loading and transportation of such Collateral; (b) utilize any Borrower’s 's equipment for use in such operation; (c) cut or otherwise temporarily move or remove any barbed wire or other fencing or similar boundary-maintenance devices; and (d) pick or otherwise render inoperative any locks on any property not customarily inhabited by people. Each Borrower agrees that any such actions authorized by this Section shall be authorized and not a breach of the peace if U.S. Bank Lender takes reasonable efforts to safeguard all of such Borrower’s 's property.

Appears in 1 contract

Samples: Loan and Security Agreement (Allied Defense Group Inc)

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