Lender Remedies. (a) In addition to the rights and remedies set forth in Section 12.1, if any Event of Default shall have occurred and be continuing, Lender may, without notice, take any one or more of the following actions: (i) require that all Letter of Credit Obligations be fully cash collateralized pursuant to Schedule I; or (ii) exercise any rights and remedies provided to Lender under the Credit Documents or at law or equity, including all remedies provided under the UCC.
(b) Without limiting the generality of the foregoing, each Credit Party expressly agrees that upon the occurrence of any Event of Default, Lender may take any action necessary to collect, receive, assemble, process, appropriate and realize upon the Collateral, or any part thereof, or appoint a third party to do so and may forthwith sell, lease, assign, give an option or options to purchase or otherwise dispose of and deliver said Collateral (or contract to do so), or any part thereof, in one or more parcels at public or private sale or sales, at any exchange at such prices as it may deem best, for cash or on credit or for future delivery without assumption of any credit risk. Lender shall have the right upon any such public sale, to the extent permitted by law, to purchase for the benefit of Lender the whole or any part of said Collateral so sold, free of any right of equity of redemption, which right each Credit Party hereby releases. Such sales may be adjourned or continued from time to time with or without notice. Lender shall have the right to conduct such sales on any Corporate Credit Party’s premises or elsewhere and shall have the right to use any Corporate Credit Party’s premises without rent or other charge for such sales or other action with respect to the Collateral for such time as Lender deems necessary or advisable.
(c) Upon the occurrence and during the continuance of an Event of Default and at Lender’s request, each Credit Party further agrees to assemble the Collateral and make it available to Lender at places which Lender shall reasonably select, whether at its premises or elsewhere. Until Lender is able to effect a sale, lease, or other disposition of the Collateral, Lender shall have the right to complete, assemble, use or operate the Collateral or any part thereof, to the extent that Lender deems appropriate, for the purpose of preserving such Collateral or its value or for any other purpose. Lender shall have no obligation to any Credit Party to maintain or preserve the rights ...
Lender Remedies. Upon the occurrence of any Event of Default, Agent may, and at the written request of the Requisite Lenders shall, terminate the Commitments with respect to further Term Loans and declare any or all of the Obligations to be immediately due and payable, without demand or notice to any Loan Party and the accelerated Obligations shall bear interest at the Default Rate pursuant to Section 2.6, provided that, upon the occurrence of any Event of Default specified in Section 8.1(g) above, the Obligations shall be automatically accelerated. After the occurrence of an Event of Default, Agent shall have (on behalf of itself and Lenders) all of the rights and remedies of a secured party under the UCC, and under any other applicable law. Without limiting the foregoing, Agent shall have the right to, and at the written request of the Requisite Lenders shall, (a) notify any account debtor of any Loan Party or any obligor on any instrument which constitutes part of the Collateral to make payments to Agent (for the benefit of itself and Lenders), (b) with or without legal process, enter any premises where the Collateral may be and take possession of and remove the Collateral from the premises or store it on the premises, (c) sell the Collateral at public or private sale, in whole or in part, and have the right to bid and purchase at such sale, or (d) lease or otherwise dispose of all or part of the Collateral, applying proceeds from such disposition to the Obligations in accordance with Section 8.4. If requested by Agent, Loan Parties shall promptly assemble the Collateral and make it available to Agent at a place to be designated by Agent. Agent may also render any or all of the Collateral unusable at a Loan Party’s premises and may dispose of such Collateral on such premises without liability for rent or costs. Any notice that Agent is required to give to a Loan Party under the UCC of the time and place of any public sale or the time after which any private sale or other intended disposition of the Collateral is to be made shall be deemed to constitute reasonable notice if such notice is given in accordance with this Agreement at least five (5) days prior to such action. Effective only upon the occurrence and during the continuance of an Event of Default, each Loan Party hereby irrevocably appoints Agent (and any of Agent’s designated officers or employees) as such Loan Party’s true and lawful attorney to: (i) take any of the actions specified above in this paragraph; (...
Lender Remedies. Upon the occurrence and continuation of any Event of Default, Agent or Security Trustee may, and at the written request of the Requisite Lenders shall, terminate the Commitments and declare any or all of the Obligations to be immediately due and payable, without demand or notice to any Loan Party and the accelerated Obligations shall bear interest at the Default Rate pursuant to Section 2.6, provided that, upon the occurrence of any Event of Default specified in Section 8.1(g) above, the Obligations shall be automatically accelerated. After the occurrence of an Event of
Lender Remedies. Upon the occurrence of any of the Events of Default, Lender may, by notice to Xxxxxxxx
(i) declare its obligation to make the Advance to be terminated, whereupon the same shall forthwith terminate, and (ii) declare the Note, all interest thereon and all other amounts payable under this Agreement to be forthwith due and payable, whereupon the Note, all such interest and all such amounts shall become and be forthwith due and payable, without presentment, demand, protest, or further notice of any kind, all of which are hereby expressly waived by Borrower; provided, however, that in the event of an actual or deemed entry of an order for relief with respect to Borrower or any of its subsidiaries under the Federal Bankruptcy Code, (a) the obligation of Lender to make Advances shall automatically be terminated and (b) the Advances, the Note, all such interest and all such amounts shall automatically become and be due and payable, without presentment, demand, protest or any notice of any kind, all of which are hereby expressly waived by Borrower.
Lender Remedies. Upon the occurrence and continuation of any Event of Default, Agent or Security Trustee may, and at the written request of the Requisite Lenders shall, terminate the Commitments and declare any or all of the Obligations to be immediately due and payable, without demand or notice to any Loan Party and the accelerated Obligations shall bear interest at the Default Rate pursuant to Section 2.6, provided that, upon the occurrence of any Event of Default specified in Section 8.1(g) above, the Obligations shall be automatically accelerated. After the occurrence of an Event of Default, Agent or Security Trustee shall have (on behalf of itself and Lenders) all of the rights and remedies of a secured party under the Corporations Act, UCC, and under any other applicable law. For the purposes of this Agreement “Requisite Lenders” means Lenders having an aggregate Pro Rata Share of the Total Commitment or Term Loan of at least 60% provided that, if an original Lender has not assigned any of its principal outstanding since the Close Date, the Requisite Lenders must include that Lender.
Lender Remedies. In the event that there is a draw on the Retained Letter of Credit that is not paid, in full, within five (5) days of date thereof, Citizens may direct the Collateral Agent to exercise the rights in Section X.10 below. However, nothing contained herein shall permit Collateral Agent or Citizens to accelerate the Loan as evidence by the Original Note or other indebtedness owing to Mobile, nor the right to waive any defaults under the Credit Agreement. Mobile agrees that it will not have any right to enforce or any right of collection with respect to the Retained Letter of Credit or the Collateral granted in the Credit Agreement or Security Documents.
Lender Remedies. Lender may enforce the liability and obligation of FLE Borrower to perform and observe the obligations contained in this Note by bringing a foreclosure action, an action for specific performance or any other appropriate action or proceeding at law or equity to enable Lender to enforce any and all rights under this Note or the Deed of Trust or any other document, instrument and/or agreement relating to the Loan, against FLE Borrower and/or any guarantor, and/or indemnitor, and/or in respect of the Property and any other collateral given to Lender pursuant hereto or the Deed of Trust.
Lender Remedies. Lender shall have all remedies of a secured creditor with respect to the Utica Assets under the New York Uniform Commercial Code and other applicable law, and may exercise any and all other remedies provided in the Loan Documents. Lender’s failure at any time to exercise any remedy does not constitute a waiver of the right to exercise that remedy at any other time or with respect to subsequent Events of Default. Lender’s acceptance of one or more partial payments after the occurrence of an Event of Default shall not constitute a course of dealing or course of performance, nor shall it constitute a waiver of any Event of Default, nor a relinquishment of Lender’s option to exercise its available rights and remedies. Lender’s exercise of any right or remedy will not constitute a cure or waiver of any Event of Default, nor prejudice Lender in exercising any other right or remedy, until Lender realizes all Loan Obligations owed to it.
Lender Remedies. Upon the occurrence of any Event of Default, Agent may, and at the written request of the Requisite Lenders shall, terminate the Commitments with respect to further Term Loans and declare any or all of the Obligations to be immediately due and payable, without demand or
Lender Remedies. During the continuance of an Event of Default under this Agreement, Lender shall have the right to withdraw and apply funds from the Deposit Account to payment of any and all debts, liabilities and obligations of Borrower to Lender pursuant to, or in connection with, the Loan, the Loan Documents and this Agreement, in such order, proportion and priority as Lender may determine in its sole discretion. Lender’s right to withdraw and apply funds in the Deposit Account shall be in addition to all other rights and remedies provided to Lender under this Agreement and the other Loan Documents and at law or in equity. Lender’s continuation of payments from the Deposit Account when contemplated by this Agreement shall not be deemed Lender’s waiver or a cure of any default by Borrower and shall be without prejudice to Lender’s rights.
