Common use of Louisiana Remedies Clause in Contracts

Louisiana Remedies. Certain of the Collateral described in this Agreement is located in the State of Louisiana or may be subject to the laws of the State of Louisiana (provided, however, the parties by this Section in no way intend to derogate from the choice of law contained in Section 12.15 hereof). With respect to such Collateral, the following shall apply: (i) Each Borrower confesses judgment in favor of Lender for the full amount of the Obligations. Each Borrower agrees that, during the existence of an Event of Default, Lender may, without making further demand and without further notice or putting in default (which are hereby expressly waived), cause the Collateral, or any portion of it, to be seized and sold with or without appraisal (at Lender's option) by executory process issued by any competent court or enforce this Agreement in any other manner provided by law. Lender may exercise the rights and remedies set forth in this Section in addition to (and whether or not) it also exercises its rights under any other provision of this Agreement or any other agreements among Borrowers and Lender with respect to the Obligations. If any proceedings (by executory process or otherwise) are commenced, all declarations of fact made by authentic act by a person declaring that he or she has personal knowledge of the facts shall constitute authentic evidence of the facts for all purposes. (ii) Each Borrower recognizes that Lender shall have the right to cause the Collateral to be seized and sold by executory process without any prior court hearing at which any or all of the Borrowers could appear and make objection. Each Borrower specifically waives any right that it may have to a court hearing prior to the seizure and sale of the Collateral. (iii) Each Borrower expressly waives: (a) the benefit of appraisement, as provided in articles 2332, 2336, 2723 and 2724 of the Louisiana Code of Civil Procedure, and all other Applicable Laws conferring the same; (b) the demand and 3 days' delay provided by articles 2331, 2639, 2721 and 2722 of the Louisiana Code of Civil Procedure and all other Applicable Laws conferring the same; (c) the notice of seizure as provided in articles 2293 and 2721 of the Louisiana Code of Civil Procedure. Each Borrower expressly agrees to the immediate seizure of the Collateral in the event of suit to enforce this Agreement. Lender shall not be obligated to take advantage of the waiver of appraisal or any other waiver set forth herein but may at its option cause the Collateral to be appraised upon foreclosure in accordance with law and observe the statutory provisions referred to in this Section. (iv) Each Borrower and Lender designate Lender or any agent or nominee of Lender as keeper of the Collateral and also authorize Lender to name another keeper of the Collateral or any portion thereof at the time of seizure in any action for the recognition or enforcement of this Agreement, but Lender shall not be required to seek the appointment of a keeper. This agreement is made pursuant to La. R.S. 9: Section 5136 et seq., the provisions of which shall govern the powers and duties of the keeper. The keeper shall be paid as compensation for its services an amount equal to $500 per day. All sums paid by Lender as keeper's fees and related costs and expenses, with interest thereon at the Default Rate, shall be Obligations secured by this Agreement. (v) If it becomes necessary for Lender to search for all or any of the Collateral at the time of foreclosure, Lender may do so and Borrowers shall be jointly and severally obligated to Lender, ON DEMAND, for the reasonable expenses incurred by Lender in doing so with interest at the Default Rate, and this amount shall be obligations secured by this Agreement. (vi) Each Borrower waives in favor of Lender all homestead exemptions and other exemptions from seizure to which it may be entitled. (vii) The grant of authority contained in this Section 11.3.2 is intended by each Borrower to be an irrevocable power of attorney, coupled with an interest, as permitted by Louisiana law, including, but not limited to, the provisions of La. R.S. 9:Section 5388. Lender is hereby granted a license or other right to use, without charge, each Borrower's labels, patents, copyrights, rights of use of any name, trade secrets, tradenames, trademarks and advertising matter, or any Property of a similar nature, as it pertains to the Collateral, in advertising for sale and selling any Collateral and each Borrower's rights under all licenses and all franchise agreements shall inure to Lender's benefit.

Louisiana Remedies. Certain For purposes of executory process under applicable Louisiana law (and only for such purposes), upon the Collateral described in this Agreement is located in occurrence and during the State continuance of Louisiana or may be subject to the laws an Event of the State of Louisiana (provided, howeverDefault, the parties by this Section in no way intend to derogate from Grantor hereby acknowledges the choice of law contained in Section 12.15 hereof). With respect to such Collateralindebtedness owed under the Secured Obligations, CONFESSES JUDGMENT thereon and consents that judgment be rendered and signed, whether during the following shall apply: (i) Each Borrower confesses judgment court's term or during vacation, in favor of Lender the Agent, for its benefit and the benefit of the other Secured Parties, for the full amount of the Secured Obligations. Each Borrower agrees that, during Upon the existence occurrence of an Event of Default, Lender and in addition to all of its rights, powers and remedies under this Agreement and applicable law, the Agent may, without making further demand and without further notice or putting in default (which are hereby expressly waived)at its option, cause the Collateral, all or any portion part of it, the Collateral located in Louisiana (the "Louisiana Collateral") to be seized and sold with or without appraisal (at Lender's option) by executory process issued by any competent court or enforce this Agreement in any other manner provided by law. Lender may exercise the rights and remedies set forth in this Section in addition to (and whether or not) it also exercises its rights under any other provision of this Agreement or any other agreements among Borrowers and Lender with respect to the Obligations. If any proceedings (by executory process or otherwise) are commencedunder writ of fieri facias issued in execution of an ordinary judgment obtained upon the Secured Obligations, without appraisement to the highest bidder, for cash or under such terms as the Agent deems acceptable. The Grantor hereby waives all declarations of fact made by authentic act by a person declaring that he or she has personal knowledge and every appraisement of the facts shall constitute authentic evidence Louisiana Collateral and waives and renounces the benefit of appraisement of the facts for all purposes. (ii) Each Borrower recognizes that Lender shall have the right to cause the Louisiana Collateral to be seized and sold by under executory process without any prior court hearing at which any or all of the Borrowers could appear other legal process. The Grantor agrees to waive, and make objection. Each Borrower does hereby specifically waives any right that it may have to a court hearing prior to the seizure and sale of the Collateral. (iii) Each Borrower expressly waiveswaive: (a1) the benefit of appraisement, as appraisement provided for in articles Articles 2332, 2336, 2723 and 2724 of the 2724, Louisiana Code of Civil Procedure, and all other Applicable Laws laws conferring the same; such benefits; (b2) the demand and 3 days' three days delay provided accorded by articles Articles 2639 and 2721, Louisiana Code of Civil Procedure; (3) the notice of seizure required by Articles 2293 and 2721, Louisiana Code of Civil Procedure; (4) the three days delay accorded by Articles 2331 and 2722, Louisiana Code of Civil Procedure; (5) the benefit of the other provisions of Articles 2331, 26392722 and 2723, 2721 and 2722 Louisiana Code of Civil Procedure; (6) the benefit of the provisions of any other articles of the Louisiana Code of Civil Procedure and all other Applicable Laws conferring the same;not specifically mentioned above; and (c7) all rights of division and discussion with respect to the notice Secured Obligations. Pursuant to the authority contained in La.R.S. 9:5136 through 9:5140.1, the Grantor and the Agent do hereby expressly designate the Agent or its designee to be keeper or receiver ("Keeper") for the benefit of the Agent or any assignee of the Agent, such designation to take effect immediately upon any seizure as provided in articles 2293 and 2721 of any of the Louisiana Code Collateral under writ of Civil Procedureexecutory process or under writ of sequestration or fieri facias as an incident to an action brought by the Agent. Each Borrower expressly agrees It is hereby agreed that the Keeper shall be entitled to receive as compensation, in excess of its reasonable costs and expenses incurred in the administration or preservation of the Louisiana Collateral, an amount equal to the immediate seizure lesser of $200 per day or four percent of the gross revenues of the Louisiana Collateral and the payment of such fees shall be secured by the security interest in the event of suit to enforce Louisiana Collateral granted in this Agreement. Lender The designation of Keeper made herein shall not be obligated deemed to take advantage of require the waiver of appraisal or any other waiver set forth herein but may at its option cause the Collateral Agent to be appraised upon foreclosure in accordance with law and observe the statutory provisions referred to in this Section. (iv) Each Borrower and Lender designate Lender or any agent or nominee of Lender as keeper of the Collateral and also authorize Lender to name another keeper of the Collateral or any portion thereof at the time of seizure in any action for the recognition or enforcement of this Agreement, but Lender shall not be required to seek provoke the appointment of a keeper. This agreement is made pursuant to La. R.S. 9: Section 5136 et seqKeeper., the provisions of which shall govern the powers and duties of the keeper. The keeper shall be paid as compensation for its services an amount equal to $500 per day. All sums paid by Lender as keeper's fees and related costs and expenses, with interest thereon at the Default Rate, shall be Obligations secured by this Agreement. (v) If it becomes necessary for Lender to search for all or any of the Collateral at the time of foreclosure, Lender may do so and Borrowers shall be jointly and severally obligated to Lender, ON DEMAND, for the reasonable expenses incurred by Lender in doing so with interest at the Default Rate, and this amount shall be obligations secured by this Agreement. (vi) Each Borrower waives in favor of Lender all homestead exemptions and other exemptions from seizure to which it may be entitled. (vii) The grant of authority contained in this Section 11.3.2 is intended by each Borrower to be an irrevocable power of attorney, coupled with an interest, as permitted by Louisiana law, including, but not limited to, the provisions of La. R.S. 9:Section 5388. Lender is hereby granted a license or other right to use, without charge, each Borrower's labels, patents, copyrights, rights of use of any name, trade secrets, tradenames, trademarks and advertising matter, or any Property of a similar nature, as it pertains to the Collateral, in advertising for sale and selling any Collateral and each Borrower's rights under all licenses and all franchise agreements shall inure to Lender's benefit.

Louisiana Remedies. Certain For purposes of executory process under applicable Louisiana law (and only for such purposes), upon the occurrence and during the continuance of an Event of Default, the Borrower hereby acknowledges the indebtedness owed under the Obligations, CONFESSES JUDGMENT thereon and consents that judgment be rendered and signed, whether during the court's term or during vacation, in favor of the Collateral described in this Agreement is located in Agent, for the State of Louisiana or may be subject to the laws benefit of the State of Louisiana (providedSecured Parties, however, the parties by this Section in no way intend to derogate from the choice of law contained in Section 12.15 hereof). With respect to such Collateral, the following shall apply: (i) Each Borrower confesses judgment in favor of Lender for the full amount of the Obligations. Each Borrower agrees that, during Upon the existence occurrence of an Event of Default, Lender and in addition to all of its rights, powers and remedies under this Security Agreement and applicable law, the Collateral Agent may, without making further demand and without further notice or putting in default (which are hereby expressly waived)at its option, cause the Collateral, all or any portion part of it, the Collateral located in Louisiana (the "Louisiana Collateral") to be seized and sold with or without appraisal (at Lender's option) by executory process issued by any competent court or enforce this Agreement in any other manner provided by law. Lender may exercise the rights and remedies set forth in this Section in addition to (and whether or not) it also exercises its rights under any other provision of this Agreement or any other agreements among Borrowers and Lender with respect to the Obligations. If any proceedings (by executory process or otherwise) are commencedunder writ of fieri facias issued in execution of an ordinary judgment obtained upon the Obligations, without appraisement to the highest bidder, for cash or under such terms as the Collateral Agent deems acceptable. The Borrower hereby waives all declarations of fact made by authentic act by a person declaring that he or she has personal knowledge and every appraisement of the facts shall constitute authentic evidence Louisiana Collateral and waives and renounces the benefit of appraisement and the benefit of all laws relative to the appraisement of the facts for all purposes. (ii) Each Borrower recognizes that Lender shall have the right to cause the Louisiana Collateral to be seized and sold by under executory process without any prior court hearing at which any or all of the Borrowers could appear other legal process. The Borrower agrees to waive, and make objection. Each Borrower does hereby specifically waives any right that it may have to a court hearing prior to the seizure and sale of the Collateral. (iii) Each Borrower expressly waiveswaive: (a1) the benefit of appraisement, as appraisement provided for in articles Articles 2332, 2336, 2723 and 2724 of the 2724, Louisiana Code of Civil Procedure, and all other Applicable Laws laws conferring the same; such benefits; (b2) the demand and 3 days' three days delay provided accorded by articles Articles 2639 and 2721, Louisiana Code of Civil Procedure; (3) the notice of seizure required by Articles 2293 and 2721, Louisiana Code of Civil Procedure; (4) the three days delay accorded by Articles 2331 and 2722, Louisiana Code of Civil Procedure; (5) the benefit of the other provisions of Articles 2331, 26392722 and 2723, 2721 and 2722 Louisiana Code of Civil Procedure; (6) the benefit of the provisions of any other articles of the Louisiana Code of Civil Procedure and all other Applicable Laws conferring the same;not specifically mentioned above; and (c7) all rights of division and discussion with respect to the notice Obligations. Pursuant to the authority contained in La.R.S. 9:5136 through 9:5140.1, the Borrower and the Collateral Agent do hereby expressly designate the Collateral Agent or its designee to be keeper or receiver ("Keeper") for the benefit of the Collateral Agent or any assignee of the Collateral Agent, such designation to take effect immediately upon any seizure as provided in articles 2293 and 2721 of any of the Louisiana Code Collateral under writ of Civil Procedureexecutory process or under writ of sequestration or fieri facias as an incident to an action brought by the Collateral Agent. Each Borrower expressly agrees It is hereby agreed that the Keeper shall be entitled to receive as compensation, in excess of its reasonable costs and expenses incurred in the administration or preservation of the Louisiana Collateral, an amount equal to the immediate seizure lesser of $200 per day or four percent of the gross revenues of the Louisiana Collateral and the payment of such fees shall be secured by the security interest in the event of suit to enforce Louisiana Collateral granted in this Security Agreement. Lender The designation of Keeper made herein shall not be obligated deemed to take advantage of the waiver of appraisal or any other waiver set forth herein but may at its option cause the Collateral require Mortgagee to be appraised upon foreclosure in accordance with law and observe the statutory provisions referred to in this Section. (iv) Each Borrower and Lender designate Lender or any agent or nominee of Lender as keeper of the Collateral and also authorize Lender to name another keeper of the Collateral or any portion thereof at the time of seizure in any action for the recognition or enforcement of this Agreement, but Lender shall not be required to seek provoke the appointment of a keeper. This agreement is made pursuant to La. R.S. 9: Section 5136 et seqKeeper., the provisions of which shall govern the powers and duties of the keeper. The keeper shall be paid as compensation for its services an amount equal to $500 per day. All sums paid by Lender as keeper's fees and related costs and expenses, with interest thereon at the Default Rate, shall be Obligations secured by this Agreement. (v) If it becomes necessary for Lender to search for all or any of the Collateral at the time of foreclosure, Lender may do so and Borrowers shall be jointly and severally obligated to Lender, ON DEMAND, for the reasonable expenses incurred by Lender in doing so with interest at the Default Rate, and this amount shall be obligations secured by this Agreement. (vi) Each Borrower waives in favor of Lender all homestead exemptions and other exemptions from seizure to which it may be entitled. (vii) The grant of authority contained in this Section 11.3.2 is intended by each Borrower to be an irrevocable power of attorney, coupled with an interest, as permitted by Louisiana law, including, but not limited to, the provisions of La. R.S. 9:Section 5388. Lender is hereby granted a license or other right to use, without charge, each Borrower's labels, patents, copyrights, rights of use of any name, trade secrets, tradenames, trademarks and advertising matter, or any Property of a similar nature, as it pertains to the Collateral, in advertising for sale and selling any Collateral and each Borrower's rights under all licenses and all franchise agreements shall inure to Lender's benefit.

Louisiana Remedies. Certain For purposes of executory process under applicable Louisiana law (and only for such purposes), upon the Collateral described in this Agreement is located in occurrence and during the State continuance of Louisiana or may be subject to the laws an Event of the State of Louisiana (provided, howeverDefault, the parties by this Section in no way intend to derogate from Grantor hereby acknowledges the choice of law contained in Section 12.15 hereof). With respect to such Collateralindebtedness owed under the Obligations, CONFESSES JUDGMENT thereon and consents that judgment be rendered and signed, whether during the following shall apply: (i) Each Borrower confesses judgment court's term or during vacation, in favor of Lender the Agent, for the benefit of the Lenders, the Fronting Banks and the Underwriters, for the full amount of the Obligations. Each Borrower agrees that, during Upon the existence occurrence of an Event of Default, Lender and in addition to all of its rights, powers and remedies under this Agreement and applicable law, the Agent may, without making further demand and without further notice or putting in default (which are hereby expressly waived)at its option, cause the Collateral, all or any portion part of it, the Collateral located in Louisiana (the "Louisiana Collateral") to be seized and sold with or without appraisal (at Lender's option) by executory process issued by any competent court or enforce this Agreement in any other manner provided by law. Lender may exercise the rights and remedies set forth in this Section in addition to (and whether or not) it also exercises its rights under any other provision of this Agreement or any other agreements among Borrowers and Lender with respect to the Obligations. If any proceedings (by executory process or otherwise) are commencedunder writ of fieri facias issued in execution of an ordinary judgment obtained upon the Obligations, without appraisement to the highest bidder, for cash or under such terms as the Agent deems acceptable. The Grantor hereby waives all declarations of fact made by authentic act by a person declaring that he or she has personal knowledge and every appraisement of the facts shall constitute authentic evidence Louisiana Collateral and waives and renounces the benefit of appraisement of the facts for all purposes. (ii) Each Borrower recognizes that Lender shall have the right to cause the Louisiana Collateral to be seized and sold by under executory process without any prior court hearing at which any or all of the Borrowers could appear other legal process. The Grantor agrees to waive, and make objection. Each Borrower does hereby specifically waives any right that it may have to a court hearing prior to the seizure and sale of the Collateral. (iii) Each Borrower expressly waiveswaive: (a1) the benefit of appraisement, as appraisement provided for in articles Articles 2332, 2336, 2723 and 2724 of the 2724, Louisiana Code of Civil Procedure, and all other Applicable Laws laws conferring the same; such benefits; (b2) the demand and 3 days' three days delay provided accorded by articles Articles 2639 and 2721, Louisiana Code of Civil Procedure; (3) the notice of seizure required by Articles 2293 and 2721, Louisiana Code of Civil Procedure; (4) the three days delay accorded by Articles 2331 and 2722, Louisiana Code of Civil Procedure; (5) the benefit of the other provisions of Articles 2331, 26392722 and 2723, 2721 and 2722 Louisiana Code of Civil Procedure; (6) the benefit of the provisions of any other articles of the Louisiana Code of Civil Procedure and all other Applicable Laws conferring the same;not specifically mentioned above; and (c7) all rights of division and discussion with respect to the notice Obligations. Pursuant to the authority contained in La.R.S. 9:5136 through 9:5140.1, the Grantor and the Agent do hereby expressly designate the Agent or its designee to be keeper or receiver ("Keeper") for the benefit of the Agent or any assignee of the Agent, such designation to take effect immediately upon any seizure as provided in articles 2293 and 2721 of any of the Louisiana Code Collateral under writ of Civil Procedureexecutory process or under writ of sequestration or fieri facias as an incident to an action brought by the Agent. Each Borrower expressly agrees It is hereby agreed that the Keeper shall be entitled to receive as compensation, in excess of its reasonable costs and expenses incurred in the administration or preservation of the Louisiana Collateral, an amount equal to the immediate seizure lesser of $200 per day or four percent of the gross revenues of the Louisiana Collateral and the payment of such fees shall be secured by the security interest in the event of suit to enforce Louisiana Collateral granted in this Agreement. Lender The designation of Keeper made herein shall not be obligated deemed to take advantage of the waiver of appraisal or any other waiver set forth herein but may at its option cause the Collateral require Mortgagee to be appraised upon foreclosure in accordance with law and observe the statutory provisions referred to in this Section. (iv) Each Borrower and Lender designate Lender or any agent or nominee of Lender as keeper of the Collateral and also authorize Lender to name another keeper of the Collateral or any portion thereof at the time of seizure in any action for the recognition or enforcement of this Agreement, but Lender shall not be required to seek provoke the appointment of a keeper. This agreement is made pursuant to La. R.S. 9: Section 5136 et seqKeeper., the provisions of which shall govern the powers and duties of the keeper. The keeper shall be paid as compensation for its services an amount equal to $500 per day. All sums paid by Lender as keeper's fees and related costs and expenses, with interest thereon at the Default Rate, shall be Obligations secured by this Agreement. (v) If it becomes necessary for Lender to search for all or any of the Collateral at the time of foreclosure, Lender may do so and Borrowers shall be jointly and severally obligated to Lender, ON DEMAND, for the reasonable expenses incurred by Lender in doing so with interest at the Default Rate, and this amount shall be obligations secured by this Agreement. (vi) Each Borrower waives in favor of Lender all homestead exemptions and other exemptions from seizure to which it may be entitled. (vii) The grant of authority contained in this Section 11.3.2 is intended by each Borrower to be an irrevocable power of attorney, coupled with an interest, as permitted by Louisiana law, including, but not limited to, the provisions of La. R.S. 9:Section 5388. Lender is hereby granted a license or other right to use, without charge, each Borrower's labels, patents, copyrights, rights of use of any name, trade secrets, tradenames, trademarks and advertising matter, or any Property of a similar nature, as it pertains to the Collateral, in advertising for sale and selling any Collateral and each Borrower's rights under all licenses and all franchise agreements shall inure to Lender's benefit.