Common use of Management of Collateral Clause in Contracts

Management of Collateral. Each Grantor further agrees, if an Event of Default shall have occurred and be continuing, (i) at the Collateral Agent’s request, to assemble the Collateral and make it available to the Collateral Agent at places which the Collateral Agent shall reasonably select, whether at such Grantor’s premises or elsewhere, (ii) without limiting the foregoing, the Collateral Agent also has the right to require that each Grantor store and keep any Collateral pending further action by the Collateral Agent and, while any such Collateral is so stored or kept, provide such guards and maintenance services as shall be reasonably necessary to protect the same and to preserve and maintain such Collateral in good condition, (iii) until the Collateral Agent is able to transfer any Collateral, the Collateral Agent shall have the right to hold or use such Collateral to the extent that it deems appropriate for the purpose of preserving the Collateral or its value or for any other purpose deemed appropriate by the Collateral Agent and (iv) the Collateral Agent may, if it so elects, seek the appointment of a receiver or keeper to take possession of any Collateral and to enforce any of the Collateral Agent’s remedies (for the benefit of the Secured Parties), with respect to such appointment without prior notice or hearing as to such appointment. Notwithstanding the foregoing, the Collateral Agent’s rights under this paragraph (c) are subject to the applicable limitations under federal Law. The Collateral Agent shall not have any obligation to any Grantor to maintain or preserve the rights of any Grantor as against third parties with respect to any Collateral while such Collateral is in the possession of the Collateral Agent.

Management of Collateral. Each Grantor further agrees, if an Event of Default shall have occurred and be continuing, (i) at the Collateral Agent’s request, to assemble the Collateral and make it available to the Collateral Agent at places which the Collateral Agent shall reasonably select, whether at such Grantor’s premises or elsewhere, (ii) without limiting the foregoing, the Collateral Agent also has the right to require that each Grantor store and keep any Collateral pending further action by the Collateral Agent and, while any such Collateral is so stored or kept, provide such guards and maintenance services as shall be reasonably necessary to protect the same and to preserve and maintain such Collateral in good condition, (iii) until the Collateral Agent is able to transfer any Collateral, the Collateral Agent shall have the right to hold or use such Collateral to the extent that it deems appropriate for the purpose of preserving the Collateral or its value or for any other purpose deemed appropriate by the Collateral Agent and (iv) the Collateral Agent may, if it so elects, seek the appointment of a receiver or keeper to take possession of any Collateral and to enforce any of the Collateral Agent’s remedies (for the benefit of the Secured Parties), with respect to such appointment without prior notice or hearing as to such appointment. Notwithstanding the foregoing, the Collateral Agent’s rights under this paragraph (c) are subject to the applicable limitations under federal or state Law. The Collateral Agent shall not have any obligation to any Grantor to maintain or preserve the rights of any Grantor as against third parties with respect to any Collateral while such Collateral is in the possession of the Collateral Agent.

Management of Collateral. Each Grantor Obligor further agrees, if an that, during the continuance of any Event of Default shall have occurred and be continuingDefault, (i) at the Collateral Administrative Agent’s request, to it shall assemble the Collateral and make it available to the Collateral Administrative Agent at places which that the Collateral Administrative Agent shall reasonably select, whether at such GrantorObligor’s premises or elsewhere, (ii) without limiting the foregoing, the Collateral Administrative Agent also has the right to require that each Grantor Obligor store and keep any Collateral pending further action by the Collateral Administrative Agent and, while any such Collateral is so stored or kept, provide such guards and maintenance services as shall be reasonably necessary to protect the same and to preserve and maintain such Collateral in good condition, (iii) until the Collateral Administrative Agent is able to transfer sell any Collateral, the Collateral Administrative Agent shall have the right to hold or use such Collateral to the extent that it deems appropriate for the purpose of preserving the Collateral or its value or for any other purpose deemed appropriate by the Collateral Agent Administrative Agent, and (iv) the Collateral Administrative Agent may, if it so elects, seek the appointment of a receiver or keeper to take possession of any Collateral and to enforce any of the Collateral Administrative Agent’s remedies (for the benefit of the Secured PartiesLenders), with respect to such appointment without prior notice or hearing as to such appointment. Notwithstanding the foregoing, the Collateral Agent’s rights under this paragraph (c) are subject to the applicable limitations under federal Law. The Collateral Administrative Agent shall not have any obligation to any Grantor Obligor to maintain or preserve the rights of any Grantor Obligor as against third parties with respect to any Collateral while such Collateral is in the possession of the Collateral Administrative Agent.

Management of Collateral. Each Grantor Obligor further agrees, if an that, during the continuance of any Event of Default shall have occurred and be continuingDefault, (i) at the Collateral Agent’s request, to it shall assemble the Collateral and make it available to the Collateral Agent at places which that the Collateral Agent shall reasonably select, whether at such GrantorObligor’s premises or elsewhere, (ii) without limiting the foregoing, the Collateral Agent also has the right to require that each Grantor Obligor store and keep any Collateral pending further action by the Collateral Agent and, while any such Collateral is so stored or kept, provide such guards and maintenance services as shall be reasonably necessary to protect the same and to preserve and maintain such Collateral in good condition, (iii) until the Collateral Agent is able to transfer sell any Collateral, the Collateral Agent shall have the right to hold or use such Collateral to the extent that it deems appropriate for the purpose of preserving the Collateral or its value or for any other purpose deemed appropriate by the Collateral Agent Agent, and (iv) the Collateral Agent may, if it so elects, seek the appointment of a receiver or keeper to take possession of any Collateral and to enforce any of the Collateral Agent’s remedies (for the benefit of the Secured Parties), with respect to such appointment without prior notice or hearing as to such appointment. Notwithstanding the foregoing, the Collateral Agent’s rights under this paragraph (c) are subject to the applicable limitations under federal Law. The Collateral No Agent shall not have any obligation to any Grantor Obligor to maintain or preserve the rights of any Grantor Obligor as against third parties with respect to any Collateral while such Collateral is in the possession of the Collateral any Agent.

Management of Collateral. Each Grantor Obligor further agrees, if an that, during the continuance of any Event of Default shall have occurred and be continuingDefault, (i) at the Collateral Administrative Agent’s request, to it shall assemble the Collateral and make it available to the Collateral Administrative Agent at places which that the Collateral Administrative Agent shall reasonably select, whether at such GrantorObligor’s premises or elsewhere, (ii) without limiting the foregoing, the Collateral Administrative Agent also has the right to require that each Grantor Obligor store and keep any Collateral pending further action by the Collateral Administrative Agent and, while any such Collateral is so stored or kept, provide such guards and maintenance services as shall be reasonably necessary to protect the same and to preserve and maintain such Collateral in good condition, (iii) until the Collateral Administrative Agent is able to transfer sell any Collateral, the Collateral Administrative Agent shall have the right to hold or use such Collateral to the extent that it deems appropriate for the purpose of preserving the Collateral or its value or for any other purpose deemed appropriate by the Collateral Agent Administrative Agent, and (iv) the Collateral Administrative Agent may, if it so elects, seek the appointment of a receiver or keeper to take possession of any Collateral and to enforce any of the Collateral Administrative Agent’s remedies (for the benefit of the Secured Lender Parties), with respect to such appointment without prior notice or hearing as to such appointment. Notwithstanding the foregoing, the Collateral Agent’s rights under this paragraph (c) are subject to the applicable limitations under federal Law. The Collateral Administrative Agent shall not have any obligation to any Grantor Obligor to maintain or preserve the rights of any Grantor Obligor as against third parties with respect to any Collateral while such Collateral is in the possession of the Collateral Administrative Agent.