INITIATION OF LIQUIDATION. Unless stayed by judicial or statutory process, a Liquidation shall be initiated by the Agent within a commercially reasonable time following Acceleration of the Liabilities.
Appears in 4 contracts
Samples: Loan and Security Agreement (RoomStore, Inc.), Loan and Security Agreement (Wild Oats Markets Inc), Loan and Security Agreement (Lechters Inc)
INITIATION OF LIQUIDATION. Unless stayed by judicial or statutory process, a Liquidation shall be initiated by the Administrative Agent within a commercially reasonable time following Acceleration acceleration of the Liabilities.
Appears in 4 contracts
Samples: Loan and Security Agreement (Shopko Stores Inc), Loan and Security Agreement (Shopko Stores Inc), Loan and Security Agreement (Officemax Inc /Oh/)
INITIATION OF LIQUIDATION. Unless stayed by judicial or statutory process, a Liquidation shall be initiated by the Agent within a commercially reasonable time following Acceleration of Liabilities on account of the LiabilitiesRevolving Credit.
Appears in 2 contracts
Samples: Loan and Security Agreement (Drugmax Inc), Loan and Security Agreement (Odd Job Stores Inc)
INITIATION OF LIQUIDATION. Unless stayed by judicial or statutory process, a Liquidation shall may (and upon the direction of the Majority Lenders, shall) be initiated by the Agent within a commercially reasonable time following Acceleration of the LiabilitiesLiabilities pursuant to Agent's receipt of an Acceleration Notice under Section 14.4.
Appears in 1 contract
INITIATION OF LIQUIDATION. Unless stayed by judicial or statutory process, a Liquidation shall may (and upon the direction of the Majority Lenders, shall) be initiated by the Agent within a commercially reasonable time following Acceleration of the Liabilities.Liabilities pursuant to Agent's receipt of an Acceleration Notice under Section 14.4. 14.6
Appears in 1 contract
