Common use of Possession and Assembly of Collateral Clause in Contracts

Possession and Assembly of Collateral. The Lender may, without notice, demand or legal process of any kind, take possession of any or all of the Collateral (in addition to Collateral of which the Lender already has possession), wherever it may be found, and for that purpose may pursue the same wherever it may be found, and may at any time enter into any of the Borrower’s premises where any of the Collateral may be or is supposed to be, and search for, take possession of, remove, keep and store any of the Collateral until the same shall be sold or otherwise disposed of and the Lender shall have the right to store and conduct a sale of the same in any of the Borrower’s premises without cost to the Lender. At the Lender’s request, the Borrower will, at the Borrower’s sole expense, assemble the Collateral and make it available to the Lender at a place or places to be designated by the Lender which is reasonably convenient to the Lender and the Borrower.

Appears in 6 contracts

Samples: Loan and Security Agreement (Amtech Systems Inc), Loan and Security Agreement (Digital Ally, Inc.), Loan and Security Agreement (Amtech Systems Inc)

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Possession and Assembly of Collateral. The Lender may, without notice, demand or legal process of any kind, take possession of any or all of the Collateral (in addition to Collateral of which the Lender already has possession), wherever it may be found, and for that purpose may pursue the same wherever it may be found, and may at any time enter into any of the Borrower’s premises where any of the Collateral may be or is supposed to be, and search for, take possession of, remove, keep and store any of the Collateral until the same shall be sold or otherwise disposed of and the Lender shall have the right to store and conduct a sale of the same in any of the Borrower’s premises without cost to the Lender. At the Lender’s request, the Borrower will, at the Borrower’s sole expense, assemble the Collateral and make it available to the Lender at a place or places to be designated by the Lender which is reasonably convenient to the Lender and the Borrower.

Appears in 3 contracts

Samples: Loan and Security Agreement (Flux Power Holdings, Inc.), Loan and Security Agreement (Polar Power, Inc.), Loan and Security Agreement (Chromcraft Revington Inc)

Possession and Assembly of Collateral. The During the continuance of any Event of Default under this Agreement, Lender may, without notice, demand or legal process of any kind, take possession of any or all of the Collateral (in addition to Collateral of which the Lender already has possession), wherever it may be found, and for that purpose may pursue the same wherever it may be found, and may at any time enter into any of the Borrower’s premises of any Borrower where any of the Collateral may be or is supposed to be, and search for, take possession of, remove, keep and store any of the Collateral until the same shall be sold or otherwise disposed of and the Lender shall have the right to store and conduct a sale of the same in any of the any Borrower’s premises without cost to the Lender. At the Lender’s request, the Borrower Borrowers will, at the Borrower’s Borrowers’ sole expense, assemble the Collateral and make it available to the Lender at a place or places to be designated by the Lender which is reasonably convenient to the Lender and the BorrowerBorrowers.

Appears in 3 contracts

Samples: Loan and Security Agreement (Adcare Health Systems, Inc), Loan and Security Agreement (Adcare Health Systems Inc), Loan and Security Agreement (Adcare Health Systems Inc)

Possession and Assembly of Collateral. The Lender may, without notice, demand or legal process of any kind, take possession of any or all of the Collateral (in addition to Collateral of which the Lender already has possession), wherever it may be found, and for that purpose may pursue the same wherever it may be found, and may at any time enter into any of the Borrower’s Borrowers’ premises where any of the Collateral may be or is supposed to be, and search for, take possession of, remove, keep and store any of the Collateral until the same shall be sold or otherwise disposed of and the Lender shall have the right to store and conduct a sale of the same in any of the Borrower’s Borrowers’ premises without cost to the Lender. At the Lender’s request, the Borrower Borrowers will, at the Borrower’s Borrowers’ sole expense, assemble the Collateral and make it available to the Lender at a place or places to be designated by the Lender which is reasonably convenient to the Lender and the BorrowerBorrowers.

Appears in 1 contract

Samples: Loan Agreement (Amerinac Holding Corp.)

Possession and Assembly of Collateral. The Lender may, without notice, demand or legal process of any kind, take possession of any or all of the Collateral (in addition to Collateral of which the Lender already has possession), wherever it may be found, and for that purpose may pursue the same wherever it may be found, and may at any time enter into any of the Borrower’s premises where any of the Collateral may be or is supposed to be, and search for, take possession of, remove, keep and store any of the Collateral until the same shall be sold or otherwise disposed of and the Lender shall have the right to store and conduct a sale of the same in any of the Borrower’s premises without cost to the Lender. At the Lender’s request, the Borrower Borrowers will, at the Borrower’s sole expense, assemble the Collateral and make it available to the Lender at a place or places to be designated by the Lender which is reasonably convenient to the Lender and the Borrower.

Appears in 1 contract

Samples: Loan and Security Agreement (Amrep Corp)

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Possession and Assembly of Collateral. The Lender may, without notice, demand or legal process of any kind, take possession of any or all of the Collateral (in addition to Collateral of which the Lender already has possession), wherever it may be found, and for that purpose may pursue the same wherever it may be found, and may at any time enter into any of the Borrower’s 's premises where any of the Collateral may be or is supposed to be, and search for, take possession of, remove, keep and store any of the Collateral until the same shall be sold or otherwise disposed of and the Lender shall have the right to store and conduct a sale of the same in any of the Borrower’s 's premises without cost to the Lender. At the Lender’s 's request, the Borrower will, at the Borrower’s 's sole expense, assemble the Collateral and make it available to the Lender at a place or places to be designated by the Lender which is reasonably convenient to the Lender and the Borrower.

Appears in 1 contract

Samples: Loan and Security Agreement (Dynatronics Corp)

Possession and Assembly of Collateral. The Lender Lenders may, without notice, demand or legal process of any kind, take possession of any or all of the Collateral (in addition to Collateral of which the Lender Lenders already has have possession), wherever it may be found, and for that purpose may pursue the same wherever it may be found, and may at any time enter into any of the Borrower’s premises where any of the Collateral may be or is supposed to be, and search for, take possession of, remove, keep and store any of the Collateral until the same shall be sold or otherwise disposed of and the Lender Lenders shall have the right to store and conduct a sale of the same in any of the Borrower’s premises without cost to the LenderLenders. At the Lender’s Lenders’ request, the Borrower will, at the Borrower’s sole expense, assemble the Collateral and make it available to the Lender Lenders at a place or places to be designated by the Lender Lenders which is reasonably convenient to the Lender Lenders and the Borrower.

Appears in 1 contract

Samples: Loan and Security Agreement (FC Global Realty Inc)

Possession and Assembly of Collateral. The Lender may, without notice, demand demand, or legal process of any kind, take possession of any or all of the Collateral (in addition to Collateral of which the Lender already has possession), wherever it may be found, and for that purpose may pursue the same wherever it may be found, and may at any time enter into any of the Borrower’s Co-Borrowers' premises where any of the Collateral may be or is supposed to be, and search for, take possession of, remove, keep keep, and store any of the Collateral until the same shall be sold or otherwise disposed of and the Lender shall have the right to store and conduct a sale of the same in any of the Borrower’s Co-Borrowers' premises without cost to the Lender. At the Lender’s 's request, the Borrower Co-Borrowers will, at the Borrower’s Co-Borrowers' sole expense, assemble the Collateral and make it available to the Lender at a place or places to be designated by the Lender which is reasonably convenient to the Lender and the BorrowerCo-Borrowers.

Appears in 1 contract

Samples: Loan and Security Agreement (United Western Bancorp Inc)

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