Lender’s Rights Upon Default. If the Lender declares that the Note and this Mortgage are in default, the Lender will have all rights given by law or set forth in this Mortgage. This includes the right to do any one or more of the following:
a. take possession of and manage the Property, including the collection of rents and profits;
b. have a court appoint a receiver to accept rent for the Property (I consent to this);
c. start a court action, known as foreclosure, which will result in a sale of the Property to reduce my obligations under the Note and this Mortgage; and
d. xxx me for any money that I owe the Lender.
Lender’s Rights Upon Default. Upon the occurrence of any Event of Default, Lender may, at its sole and absolute discretion and in addition to any other remedies available to it under this Agreement or otherwise, require Borrower to pay immediately to Lender, for application against drawings under any outstanding Letters of Credit, the outstanding principal amount of any such Letters of Credit which have not expired. Any portion of the amount so paid to Lender which is not applied to satisfy draws under any such Letters of Credit or any other obligations of Borrower to the Lender shall be repaid to Borrower without interest.
Lender’s Rights Upon Default. Upon the occurrence of any Event of Default, the Lender may, at its sole and exclusive option, do any or all of the following, either concurrently or separately: (a) accelerate the maturity of this Note and demand immediate payment in full, whereupon the outstanding principal amount of the Note and all obligations of Borrower to Lender, together with accrued interest thereon, shall become immediately due and payable; and (b) exercise all legally available rights and privileges.
Lender’s Rights Upon Default. Upon the occurrence of any Event of Default, the Lender may, at its sole and exclusive option, do any or all of the following, either concurrently or separately: (a) accelerate the maturity of this Note and demand immediate payment in full, whereupon the outstanding principal amount of the Note and all obligations of Borrower to Lender, together with accrued interest thereon and accrued charges and costs, shall become immediately due and payable without presentment, demand, protest or further notice of any kind, all of which are hereby expressly waived; and (b) exercise all legally available rights and privileges.
Lender’s Rights Upon Default. If the Lender declares that the Note and this Mortgage are in default, the Lender will have all rights given by law or set forth in this Mortgage. This includes the right to do any one or more of the following:
Lender’s Rights Upon Default. 1. Upon the happening of any default, as defined in Section 9 hereof, Lender may, at his sole option, pursue any or all of the remedies and exercise any or all rights set forth in this Section 10.
2. Lender may exercise all remedies of a secured party under the Uniform Commercial Code of California (the "UCC") including the following:
(a) Lender may elect to retain the Collateral or any part thereof in satisfaction of Debtor's obligations under the Note in accordance with UCC Section 9505. Lender may notify Debtor of his election to so retain the Collateral in a written notice sent to Debtor after default.
(b) Lender may sell or otherwise dispose of the Collateral or any part thereof at a private sale or public sale. Lender may notify Debtor of his election to so dispose of the Collateral in a written notice sent to Debtor after default. Lender's notice to Debtor of his election to dispose of the Collateral shall include notice of the time on or after which such private sale or other intended disposition is to be made, or the date of any public sale. Debtor shall remain liable for any deficiency following disposition of the Collateral or any part thereof pursuant to this Section.
3. Lender's delay or failure to exercise the remedies described in Section 10.2 shall not be deemed a waiver of his rights to exercise the right of sale following a default. The rights and duties of Lender and Debtor, the mechanics for sale and retention of the Collateral following a default, and the disposition or application of the proceeds of the sale of the Collateral shall be as set forth in the UCC.
4. Lender may proceed against Debtor by bringing an action under the Note and reduce his claim on the obligations secured hereby to judgment. In this connection, Debtor hereby expressly waives any and all rights she may have to require Lender to exhaust the Collateral or to proceed against any other party or to pursue any other remedy which Lender may have.
5. Lender may do any and all other acts, and take any proceedings, allowed by law or in equity to enforce Lender's rights to collect the obligations secured by this Agreement.
6. Debtor hereby irrevocably appoints Lender as her attorney-in-fact with such power to be effective upon any default by Debtor hereunder. In this capacity, Lender may exercise all rights and powers as Debtor might exercise with respect to the Collateral, including, without limitation, the right to transfer the Collateral to Lender's name or to the name ...
Lender’s Rights Upon Default. Upon the occurrence of an Event of Default which remains uncured, the Loan, together with any accrued and unpaid interest thereon, shall be immediately due and payable without notice or demand, presentment, or protest, all of which are hereby expressly waived. At any time after the occurrence of an Event of Default which remains uncured, Lender may exercise the rights and remedies afforded to it under any of the Loan Documents with respect to the Pledged Collateral and may take, sell or otherwise dispose of any remaining Pledged Collateral then held as the Lender's own property. Borrower agrees that Lender may or may not proceed, as it determines in its sole discretion, with any or all rights, benefits, and remedies which it may have against Borrower and agrees that the Lender may exercise a right of acceleration in the event of the occurrence of an Event of Default which remains uncured.
Lender’s Rights Upon Default. Upon the occurrence of and during the continuation of any Event of Default, Lender shall have all of the rights and remedies provided in the Loan Agreement.
Lender’s Rights Upon Default. Upon the occurrence of any Event of Default, the Lender may, at its sole and exclusive option, but subject to the provisions of Section 2, (a) accelerate the maturity of this Note and demand immediate payment in full, whereupon the outstanding principal amount of this Note and all obligations of the Borrower to Lender, together with accrued interest thereon and accrued charges and costs, will become immediately due and payable without presentment, demand, protest or further notice of any kind, all of which are hereby expressly waived and (b) exercise all legally available rights and privileges.
Lender’s Rights Upon Default. In the event of a default by the Borrower under this Agreement, Lender shall be entitled to exercise any and all rights and remedies available to Lender under the Illinois Uniform Commercial Code and all other rights and remedies at law in equity available to secured creditors in the State of Illinois. Borrower further acknowledges that five (5) days' notice of any public or private sale of the Collateral is commercially reasonable under all circumstances.
