Realization on Collateral Sample Clauses

Realization on Collateral. Each Tranche B Term Lender agrees that it will not seek consultation rights in connection with, and it will not object to or oppose, a motion to sell, liquidate or otherwise dispose of Collateral under Section 363 of the Bankruptcy Code if the Required Lenders have consented to such sale, liquidation or other disposition, including, without limitation, in connection with any credit bid consented to by the Required Lenders. Each Tranche B Term Lender further agrees that it will not directly or indirectly oppose or impede entry of any order in connection with such sale, liquidation or other disposition, including orders to retain professionals or set bid procedures in connection with such sale, liquidation or disposition if the Required Lenders have consented to (A) such retention of professionals and bid procedures in connection with such sale, liquidation or disposition of such assets and (B) the sale, liquidation or disposition of such assets, in which event, the Tranche B Term Lenders will be deemed to have consented to the sale or disposition of Collateral pursuant to Section 363(f) of the Bankruptcy Code.
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Realization on Collateral. In the event of acceleration of the Construction Loan and theBond Indebtedness, Lender and Trustee shall, to the extent possible under their respective Loan Documents, act in concert to foreclose and realize upon the Joint Collateral. The parties agree to work together in good faith in attempting to make joint decisions regarding such matters as collection attempts, foreclosure, selection of joint counsel (if the parties determine that joint counsel is appropriate) and maintenance and disposition of the Joint Collateral. In the event the parties are unable to agree, however, Lender shall have the right, in its discretion, (i) to direct the time, method and place of conducting all Initials /S/RW /S/JKJ /S/RWB ------------ Agreement Between Lienholders Page 3 proceedings taken in connection with the enforcement of the terms and conditions of the Joint Collateral Documents; (ii) to determine whether a receiver for the Joint Collateral or any part thereof should be appointed and the identity of any receiver; and (iii) to otherwise make decisions and take action with regard to the maintenance, protection, or disposition of the Joint Collateral; provided that such directions and actions shall be permitted under applicable law and shall be for the ratable benefit of both Lender and Trustee. Without limiting the generality of the foregoing, Lender may, in its discretion, sell or otherwise dispose of the Joint Collateral in its condition at the time of default, or may make such renovations as Lender deems appropriate to prepare the Joint Collateral for sale or disposition. In the event default occurs before completion of construction or equipping of the Project, Lender may, but shall not be required, to complete and equip the Project. In connection with the repair or completion of the Project, Lender may, in its sole discretion advance such funds as may be reasonably necessary to accomplish such repair or completion, and any funds so advanced shall be reimbursed as provided in Section 5 below. Exercise of the foregoing powers by Lender shall bind the interest of both Lender and Trustee in the Joint Collateral, and Trustee shall from time to time execute and deliver such instructions, conveyances and other documents as Lender may request to further evidence the authority granted to Lender in this Section 4 or to effectuate Lender's exercise of the powers granted in this Section 4, Either party may be a purchaser at any public sale or other disposition of the Joint C...
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Realization on Collateral. Upon the happening of one or more Events of Default, Republic shall have the right to collect all further payments made on the Collateral, and if any such payments are received by the Company, the Company shall not commingle the amounts received with other funds of the Company and shall promptly pay them over to Republic. in addition, Republic shall have the right to dispose-of the Collateral as provided herein or as provided in the other documents executed in connection herewith or as provided by law.
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Realization on Collateral. Upon the happening of one or more Events of Default, HSBC shall have the right to collect all further payments made on the Collateral, and if any such payments are received by the Company, the Company shall not commingle the amount received with other funds of the Company and shall promptly pay them over to HSBC. In addition, HSBC shall have the right to dispose of the Collateral as provided herein or as provided in the other documents executed in connection herewith or as provided by law.
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Realization on Collateral. Notwithstanding anything to the contrary contained in this Agreement or any other Loan Document, no Person other than the Agent shall exercise any right or remedy against, or liquidate, foreclose or otherwise realize upon, any of the Collateral except for the exercise by any Lender of rights of set-off (it being understood that the exercise of any such rights shall be subject to the provisions of Section 7.05). 1.4. 1.5. 2.
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Realization on Collateral. Upon the happening of one or more Events of Default, Lender shall have the right to collect all further payments made on the Collateral Note and revenue from the End Loan Proceeds, and if any such payments are received by the Borrower, the Borrower shall not commingle the amounts received with other funds of the Borrower and shall promptly pay them over to Lender. In addition, Lender shall have the right to dispose of the Collateral as provided herein or as provided in the other documents executed in connection herewith or as provided by law.
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Related to Realization on Collateral

  • Limitation on Liens on Collateral No Grantor will create, permit or suffer to exist, and each Grantor will defend the Collateral against, and take such other action as is necessary to remove, any Lien on the Collateral except Permitted Encumbrances, and will defend the right, title and interest of Agent and Lenders in and to any of such Grantor's rights under the Collateral against the claims and demands of all Persons whomsoever.

  • Release of Lien on Collateral At the same time as (i) any Collateral expires by its terms and all amounts in respect thereof have been paid in full by the related Obligor and deposited in the Collection Account, (ii) such Loan has been the subject of a Discretionary Sale pursuant to Section 2.14, has been sold to the Seller as required under the Sale Agreement or has been sold pursuant to Section 6.5 or (iii) this Agreement terminates in accordance with Section 12.6, the Administrative Agent, as agent for the Secured Parties will, to the extent requested by the Collateral Manager, release its interest in such Collateral. In connection with any sale of such Collateral, the Administrative Agent, as agent for the Secured Parties, will after the deposit by the Collateral Manager of the Proceeds of such sale into the Collection Account, at the sole expense of the Collateral Manager, execute and deliver to the Collateral Manager any assignments, bills of sale, termination statements and any other releases and instruments as the Collateral Manager may reasonably request in order to effect the release and transfer of such Collateral; provided that, the Administrative Agent, as agent for the Secured Parties, will make no representation or warranty, express or implied, with respect to any such Collateral in connection with such sale or transfer and assignment. Nothing in this section shall diminish the Collateral Manager’s obligations hereunder with respect to the Proceeds of any such sale.

  • Release of Liens on Collateral (a) The Collateral Trustee’s Liens upon the Collateral will be automatically released:

  • Security Interests in Collateral To secure their Obligations under this Agreement and the other Loan Documents, the Loan Parties shall grant to the Collateral Agent, for its benefit and the ratable benefit of the other Secured Parties, a first-priority security interest in all of the Collateral pursuant to the Security Documents.

  • Application of Proceeds from Collateral All proceeds from each sale of, or other realization upon, all or any part of the Collateral by any Secured Party after an Event of Default arises shall be applied as follows:

  • Rights in Collateral; Priority of Liens Borrower and each other Loan Party own the property granted by it as Collateral under the Collateral Documents, free and clear of any and all Liens in favor of third parties. Upon the proper filing of UCC financing statements, and the taking of the other actions required by Lender, the Liens granted pursuant to the Collateral Documents will constitute valid and enforceable first, prior and perfected (to the extent that Liens on the Collateral can be perfected by the filing of UCC financing statements) Liens on the Collateral in favor of Lender.

  • Security Interest in Collateral The provisions of this Agreement and the other Loan Documents create legal and valid Liens on all of the Collateral in favor of the Administrative Agent, for the benefit of the Secured Parties, and such Liens constitute perfected and continuing Liens on the Collateral, securing the Secured Obligations, enforceable against the applicable Loan Party and all third parties, and having priority over all other Liens on the Collateral except in the case of (a) Permitted Encumbrances, to the extent any such Permitted Encumbrances would have priority over the Liens in favor of the Administrative Agent pursuant to any applicable law or agreement and (b) Liens perfected only by possession (including possession of any certificate of title) to the extent the Administrative Agent has not obtained or does not maintain possession of such Collateral.

  • Realization upon Receivables Consistent with the standards, policies and procedures required by this Agreement and the Credit and Collection Policy, the Servicer shall use reasonable efforts to repossess or otherwise convert the ownership of and liquidate any Financed Vehicle securing a Receivable with respect to which the Servicer shall have determined that eventual payment in full is unlikely; provided, however, that the Servicer may elect not to repossess a Financed Vehicle if in its good faith judgment it determines that the proceeds ultimately recoverable with respect to such Receivable would not be greater than the expense of such repossession. In repossessing or otherwise converting the ownership of a Financed Vehicle and liquidating a Receivable, the Servicer is authorized to follow such customary practices and procedures as it shall deem necessary or advisable, consistent with the standard of care required by Section 4.01, which practices and procedures may include reasonable efforts to realize upon any recourse to Dealers, the sale of the related Financed Vehicle at public or private sale, the submission of claims under an insurance policy and other actions by the Servicer in order to realize upon a Receivable; provided, however, that in any case in which the Financed Vehicle shall have suffered damage, the Servicer shall not expend funds in connection with any repair or towards the repossession of such Financed Vehicle unless it shall determine in its reasonable judgment that such repair or repossession shall increase the related Liquidation Proceeds by an amount materially greater than the expense for such repair or repossession. The Servicer shall be entitled to recover all reasonable expenses incurred by it in the course of repossessing and liquidating a Financed Vehicle into cash proceeds, but only out of the cash proceeds of the sale of such Financed Vehicle, any deficiency obtained from the related Obligor or any amounts received from recourse to the related Dealer.

  • Non-Reliance on Collateral Agent The Collateral Agent shall not be required to keep itself informed as to the performance or observance by the Purchase Contract Agent or any Holder of Securities of this Agreement, the Purchase Contract Agreement, the Securities or any other document referred to or provided for herein or therein or to inspect the properties or books of the Purchase Contract Agent or any Holder of Securities. The Collateral Agent shall not have any duty or responsibility to provide the Company with any credit or other information concerning the affairs, financial condition or business of the Purchase Contract Agent or any Holder of Securities (or any of their affiliates) that may come into the possession of the Collateral Agent or any of its affiliates.

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