Remedies of Default. (a) If at any time an Event of Default shall have occurred and be continuing, then, in addition to having the right to exercise any right or remedy of a secured party upon default under the Uniform Commercial Code as then in effect in any applicable jurisdiction and the right to exercise any right or remedy of Secured Party under the Contribution Agreement or otherwise, Secured Party (or its nominee) shall, to the extent permitted by law, without being required to give any notice to Pledgor except as provided below:
Appears in 3 contracts
Samples: Pledge and Security Agreement, Pledge and Security Agreement (DCT Industrial Trust Inc.), Pledge and Security Agreement (Dividend Capital Trust Inc)
Remedies of Default. (a) If at any time an Event of Default shall have occurred and be continuing, then, in addition to having the right to exercise any right or remedy of a secured party upon default under the Uniform Commercial Code as then in effect in any applicable the jurisdiction in which the Collateral is held by Secured Parties and the right to exercise any right or remedy of Secured Party Parties under the Contribution Merger Agreement or otherwise, Secured Party (or its nominee) Parties shall, to the extent permitted by law, without being required to give any notice to Pledgor Pledgors except as provided below:
Appears in 2 contracts
Samples: Pledge and Security Agreement (CNL Hotels & Resorts, Inc.), Pledge and Security Agreement (CNL Hotels & Resorts, Inc.)
