Foreclosure on Collateral. In the event of foreclosure or enforcement of the Lien created by any of the Collateral Documents, title to the Collateral covered thereby shall be taken and held by the Administrative Agent (or an Affiliate or designee thereof) pro rata for the benefit of the Lenders in accordance with the Obligations outstanding to each of them and shall be administered in accordance with the standard form of collateral holding participation agreement used by the Administrative Agent in comparable syndicated credit facilities.
Foreclosure on Collateral. If any Event of Default shall occur and be continuing, the Administrative Agent shall have, in addition to all rights and remedies provided for in the U.C.C. and Laws, all such rights (including the right of foreclosure) with respect to the Collateral as provided in the Pledge Agreement, the Security Agreement, the CatchMark Timber Security Agreement, the Mortgages, the Mortgage Amendments and each other Loan Document.
Foreclosure on Collateral. In the event of foreclosure or ------------------------- enforcement of the Lien created by any of the Loan Documents, title to any collateral encumbered thereby shall be taken and held by the Administrative Agent (or an Affiliate or designee thereof) pro rata for the benefit of the Banks in accordance with the Obligations outstanding to each of them and shall be administered in accordance with the standard form of collateral holding participation agreement used by the Administrative Agent in comparable syndicated credit facilities.
Foreclosure on Collateral. It is understood and agreed that the Liens of the Collateral Documents are subject to applicable Law, including without limitation the provisions of West Virginia Code Section 29-22a-1 ET SEQ. Without the Consent of the West Virginia State Lottery Commission, only if such consent is required by the Racetrack Video Lottery Act, X.Xx. Code ss.29-22a-1, ET SEQ., the Administrative Agent shall not assign, bail, sublease, hypothecate, transfer or dispose of the video lottery terminals subject to the Collateral Documents and associated equipment or any interest therein. In the event of foreclosure or enforcement of the Lien created by any of the Collateral Documents, title to the Collateral covered thereby shall be taken and held by the Administrative Agent (or any designee thereof) pro rata for the benefit of the Lenders in accordance with their Pro Rata Shares and shall be administered in accordance with the standard form of collateral holding participation agreement used by the Administrative Agent in comparable syndicated credit facilities.
Foreclosure on Collateral. Take such actions as may be necessary to foreclose on the Collateral, including without limitation settling or adjusting disputes and claims directly with Account Debtors, taking such steps as Lender considers necessary or reasonable to protect its security interest in the Collateral or any part thereof, setting off and applying to the Obligations any and all balances and deposits of Borrower held by Lender or indebtedness at any time owing to or for the credit or the account of Borrower held by Lender, instituting a foreclosure suit in any court having jurisdiction thereof, and selling the Collateral at either a public or private sale, or both, by way of one or more contracts or transactions, for cash or on terms, in such manner and at such places (including any premises of Borrower) as Lender determines is commercially reasonable. Lender may credit bid and purchase at any public sale. Notwithstanding the foregoing, any deficiency that exists after disposition of the Collateral as provided above will be paid immediately by Borrower. Any excess will be returned, without interest and subject to the rights of third Persons, by Lender to Borrower.
Foreclosure on Collateral. (a) If the Lender acquires some or all of the Prime OP Units or REIT Shares pledged as collateral for the Loans on behalf of the Lender and the Participant as the result of a credit bid in the foreclosure proceedings, then (i) the Lender shall, upon written request by the Participant, either (A) deliver the Participant's Share of the Prime OP Units or REIT Shares, as the case may be, acquired by the Lender as a result of such credit bid to the Participant or (B) deliver a notice of election to the REIT to exchange the Participant's Share of such Prime OP Units acquired by the Lender as a result of such credit bid for REIT Xxxxxx and, upon receipt of such REIT Shares, the Lender shall deliver such REIT Shares to the Participant (it being understood and agreed that (I) any such delivery will be subject to the terms and conditions of the organizational documents governing the REIT and the Operating Partnership and to transfer and other restrictions imposed by applicable law and that each party will provide the other party with all agreements and other documents reasonably necessary or requested by the other party to ensure compliance with such requirements and restrictions and (II) Lender shall be entitled to retain for its own account 50% of the Prime OP Units or REIT Shares acquired by Lender as a result of such credit bid and any REIT Shares issued upon exchange of any such Prime OP Units so retained for the Lender's account). Subject to the provisions of Section 5(b), (i) the Lender shall have no further rights in respect of the Prime OP Units or REIT Shares delivered to Participant pursuant to this Section 5(a) and (ii) the Participant shall have no rights to the Prime OP Units and/or REIT Shares that the Lender is entitled to retain for its own account
(b) Each of the Lender and the Participant hereby agrees that, in regard to any Prime OP Units or REIT Shares pledged as collateral for the Loans and acquired by the Lender on behalf of the Lender and the Participant as the result of a credit bid in the foreclosure proceedings (including any Prime OP Units or REIT Shares delivered to Lender or Participant for its own account pursuant to Section 5(a) above but excluding any Prime OP Units or REIT Shares acquired by the Participant as a result of a bid for its own account as described in Section 4(e)), it shall not, without the prior written consent of the other, directly or indirectly, sell or otherwise transfer or dispose of, or grant any interest in or o...
Foreclosure on Collateral. Upon the occurrence of any Event of Default by HSI under any of the Transaction Documents, Enron may exercise all the rights and remedies of a secured Party under the Uniform Commercial Code ("UCC") as in effect in the State of Texas whether or not the affected collateral is located in Texas. Enron may sell any collateral at one or more public or private sales, at the office of Enron or elsewhere, for cash or credit and upon such other terms as Enron deems commercially reasonable. Enron may bid at any such sale. HSI agrees that to the extent permitted by law such sales may be made without notice. If notice is required by law, HSI hereby deems ten days advance notice of the time and place of any public or private sale reasonable notification, recognizing that if the collateral threatens to decline speedily in value or is of a type customarily sold on a recognized market, shorter notice may be reasonable. Enron shall not be obligated to make any sale of collateral regardless of notice of sale having been given. Enron may adjourn any sale by announcement at the time and place fixed therefor, and such sale may, without further notice, be made at the time and place to which it was adjourned. In the event that any sale hereunder is not completed or is defective in the opinion of Enron, Enron shall have the right to cause subsequent sales to be made hereunder. The remedies described in this Section 6.3 shall be cumulative with all other remedies of Enron hereunder or under any other Transaction Document and no delay in enforcing the foregoing shall act as a waiver of Enron's rights hereunder or thereunder.
Foreclosure on Collateral. The commencement of any foreclosure or forfeiture proceeding, execution or attachment against any collateral securing the obligations of the Borrower to the Bank.
Foreclosure on Collateral. Institute legal proceedings to foreclose upon and against the Collateral under the Mortgages, and exercise any other right, power, privilege or remedy which may be available to a secured party under the Uniform Commercial Code or other applicable law, to recover all amounts then due and owing under the Loan Documents.
Foreclosure on Collateral. If any Event of Default shall occur, the Agent shall have, in addition to all rights and remedies provided for in the U.C.C., all such rights (including the right of foreclosure) with respect to the Collateral as provided in the Pledge Agreement, the Security Agreement and each Real Estate Mortgage.
