Common use of Louisiana Remedies Clause in Contracts

Louisiana Remedies. With respect to Collateral located in the State of Louisiana, Agent will be entitled to foreclose under this Security Agreement under ordinary or executory process procedures, and to cause the Collateral to be immediately seized, wherever found, and sold with or without appraisal, in regular session of court or in vacation, in accordance with applicable Louisiana law, without the necessity of further demanding payment from Grantor, notifying Grantor, or placing Grantor in default. For purposes of foreclosure under Louisiana executory process procedures, Grantor confesses judgment and acknowledges to be indebted to the Lender Parties up to the full amount of the Secured Indebtedness. To the extent permitted under applicable Louisiana law, Grantor additionally waives: (a) the benefit of appraisal as provided for under Articles 2332, 2336, 2723, and 2724 of the Louisiana Code of Civil Procedure and all other laws with regard to appraisal upon judicial sale; (b) the demand and three days' delay as provided under Articles 2639 and 2721 of the Louisiana Code of Civil Procedure;