Public Sale. In the event of any disposition of the Collateral as ----------- provided in (S)6.1(c), the Assignee shall give to the Assignor at least ten (10) Business Days prior written notice of the time and place of any public sale of the Collateral or of the time after which any private sale or any other intended disposition is to be made. The Assignor hereby acknowledges that ten (10) Business Days prior written notice of such sale or sales shall be reasonable notice. The Assignee may enforce its rights hereunder without any other notice and without compliance with any other condition precedent now or hereafter imposed by law, regulation, judicial order or decree or otherwise (all of which are hereby expressly waived by the Assignor, to the fullest extent permitted by law). The Assignee may buy any part or all of the Collateral at any public sale and if any part or all of the Collateral is of a type customarily sold in a recognized market or is of a type which is the subject of widely-distributed standard price quotations, the Assignee may buy at private sale and may make payments thereof by any means. The Assignee may apply the cash proceeds actually received from any sale or other disposition to the reasonable expenses of retaking, holding, preparing for sale, selling, and the like, to reasonable attorneys' fees, travel, and all other expenses which may be incurred by the Assignee in attempting to collect the Obligations or to enforce this Assignment or in the prosecution or defense of any case or proceeding related to this Assignment, and then to the Obligations in accordance with the requirements of the Credit Agreement with any surplus being applied as set forth in (S)13.4 of the Credit Agreement. To the extent that any of the Obligations are to be paid or performed by a person or entity other than the Assignor, to the extent permitted by applicable law, the Assignor waives and agrees not to assert any rights or privileges which it may have under (S)9-112 of the Uniform Commercial Code of the Commonwealth of Massachusetts.
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Samples: Collateral Assignment of Partnership Interest (National Restaurant Enterprises Holdings Inc), Collateral Assignment of Partnership Interest (National Restaurant Enterprises Holdings Inc)
Public Sale. In the event of any sale or other disposition of the Collateral as ----------- provided in (S)6.1(c§6.1(c), the Assignee shall give to the Assignor at least ten five (105) Business Days Days’ prior written notice of the time and place of any public sale or other disposition of the Collateral or of the time after which any private sale or any other intended disposition is to be made. The Assignor hereby acknowledges that ten five (105) Business Days Days’ prior written authenticated notice of such sale or sales other disposition shall be reasonable notice. The Assignee may enforce its rights hereunder without any other notice and without compliance with any other condition precedent now or hereafter imposed by law, regulation, judicial order or decree or otherwise (all of which are hereby expressly waived by the Assignor, to the fullest extent permitted by law). The Assignee may buy any part or all of the Collateral at any public sale or other disposition and if any part or all of the Collateral is of a type customarily sold or otherwise disposed of in a recognized market or is of a type which is the subject of widely-distributed standard price quotations, the Assignee may buy at private sale or other disposition and may make payments thereof by any means. The Assignee may apply the cash proceeds actually received from any sale or other disposition to the reasonable expenses of retaking, holding, preparing for sale, selling, and the like, to reasonable attorneys' fees, travel, and all other expenses which may be incurred by the Assignee in attempting to collect the Obligations or to enforce this Assignment Agreement or in the prosecution or defense of any case or proceeding related to this AssignmentAgreement, and then to the Obligations in accordance with the requirements of the Credit Agreement with any surplus being applied as set forth in (S)13.4 of the Credit Agreement. To the extent that any of the Obligations are to be paid or performed by a person or entity other than the Assignor, to the extent permitted by applicable law, the Assignor waives and agrees not to assert any rights or privileges which it may have under (S)9-112 of the Uniform Commercial Code of the Commonwealth of Massachusetts.
Appears in 1 contract
Samples: Pledge and Security Agreement (FelCor Lodging Trust Inc)
Public Sale. In the event of any disposition of the Collateral as ----------- provided in this (S)6.1(c)S)8, the Assignee shall give to the Assignor Assignors at least ten (10) Business Days prior written notice of the time and place of any public sale of the Collateral or of the time after which any private sale or any other intended disposition is to be made. The Assignor hereby acknowledges that ten (10) Business Days prior written notice of such sale or sales shall be reasonable notice. The Assignee may enforce its rights hereunder without any other notice and without compliance with any other condition precedent now or hereafter imposed by law, regulation, judicial order or decree or otherwise (all of which are hereby expressly waived by the Assignor, to the fullest extent permitted by law). The Assignee may buy any part or all of the Collateral at any public sale and if any part or all of the Collateral is of a type customarily sold in a recognized market or is of a type which is the subject of widely-widely- distributed standard price quotations, the Assignee may buy at private sale and may make payments thereof by any means. The Assignee may apply the cash proceeds actually received from any sale or other disposition to the reasonable out-of- pocket expenses of retaking, holding, preparing for sale, selling, and the likelike (including, to without limitation, reasonable attorneys' feesfees and costs), travel, and all other expenses which may be incurred by the Assignee in attempting to collect the Obligations or to enforce this Assignment or in the prosecution or defense of any case or proceeding related to this Assignment, and then to the Obligations in accordance with the requirements of the Credit Agreement with any surplus being applied as set forth in (S)13.4 S)14.4 of the Credit Agreement. To the extent that any of the Obligations are to be paid or performed by a person or entity other than the Assignor, to the extent permitted by applicable law, the Assignor waives and agrees not to assert any rights or privileges which it may have under (S)9-112 of the -11- Uniform Commercial Code of the Commonwealth of Massachusetts. Without limiting the foregoing, the Assignor hereby specifically agrees that a public sale subject to the foregoing restrictions is commercially reasonable, even though it may not produce the highest possible price for the Collateral, and that the foregoing restrictions do not constitute the exclusive means of holding a commercially reasonable sale.
Appears in 1 contract
Samples: Collateral Assignment of Partnership Interests (Petro Holdings Financial Corp)