Common use of REMEDIES IN CASE OF EVENT OF DEFAULT Clause in Contracts

REMEDIES IN CASE OF EVENT OF DEFAULT. Upon the failure of the Company to make the payments in accordance with the terms of this Agreement, or upon the occurrence of a default of any provision of the Agreement or at any time during the continuance of such default, any one of which shall constitute an “Event of Default”, Secured Party, subject to the term of the Agreement, may: a. Exercise any and all rights and remedies granted to secured party by the Uniform Commercial Code as in effect in the State of New Jersey on the date hereof (the “UCC”) or otherwise allowed at law and, in either case, as otherwise provided by this Agreement; b. Take possession of the Collateral or any part thereof with or without the process of law; and c. Dispose of the Collateral as Secured Party may choose, so long as every aspect of the disposition including the method, manner, time, place and terms are commercially reasonable.

REMEDIES IN CASE OF EVENT OF DEFAULT. Upon the failure of the Company to make the payments in accordance with the terms of this AgreementNote, or upon the occurrence of a default of any provision of the Agreement Note or at any time during the continuance of such default, any one of which shall constitute an “Event of Default”, Secured Party, subject to the term of the AgreementNote, may: a. Exercise any and all rights and remedies granted to secured party by the Uniform Commercial Code as in effect in the State of New Jersey on the date hereof (the “UCC”) or otherwise allowed at law and, in either case, as otherwise provided by this Agreement; b. Take possession of the Collateral or any part thereof with or without the process of law; and c. Dispose of the Collateral as Secured Party may choose, so long as every aspect of the disposition including the method, manner, time, place and terms are commercially reasonable.