Remedies upon a Default. If a Default has occurred, the Collateral Agent shall, at the written direction of the Controlling Party, take whatever action at law or in equity as may appear necessary or desirable in the judgment of the Controlling Party to collect and satisfy all Issuer Secured Obligations, including, but not limited to, foreclosure upon the Spread Account Agreement Collateral and all other rights available to secured parties under applicable law or to enforce performance and observance of any obligation, agreement or covenant under any of the Basic Documents.
Remedies upon a Default. If a Default with respect to a Series has occurred and is continuing, the Collateral Agent shall, at the direction of the Controlling Party, take whatever action at law or in equity as may appear necessary or desirable in the judgment of the Controlling Party to collect and satisfy all Insurer Secured Obligations (including, but not limited to, foreclosure upon the Collateral and all other rights available to secured parties under applicable law) or to enforce performance and observance of any obligation, agreement or covenant under any of the Transaction Documents related to such Series. Notwithstanding the foregoing, the Collateral Agent shall not be entitled to take any action and the Controlling Party shall not be entitled to give any direction with respect to the Trust Property, except to the extent provided in the Transaction Documents and Sections 6.02(a), (c), (d) and (e) hereof.
Remedies upon a Default i. If any Default described in subsections (v) or (vi) of Section 13(a) shall occur, then without notice or any other action by the Secured Party, and if any other Default shall occur and remain uncured, then at Secured Party’s option, the entire unpaid indebtedness (principal, interest, fees, costs and otherwise) remaining unpaid under the Note shall become immediately due and payable without notice or demand.
ii. The Secured Party may exercise in respect to the Collateral, in addition to other rights and remedies provided for herein or otherwise available to it, all the rights and remedies of a secured party on default under the Uniform Commercial Code of the relevant jurisdiction (the “Code”) (whether or not the Code applies to the affected Collateral) and any other applicable law upon default by a debtor, and also may: (i) require Borrower to, and Borrower hereby agrees that it shall at its expense and upon request of the Secured Party forthwith, assemble all or part of the Collateral as directed by the Secured Party and make it available to the Secured Party at the address, stated in Secured Party’s notice requiring such assembly; and (ii) upon not less than five (5) days prior written notice to Borrower, sell the Collateral or any part thereof in one or more parcels at public or private sale, at the address stated in the Secured Party’s notice or elsewhere, for cash, on credit or for future delivery, and upon such other terms as the Secured Party may deem commercially reasonable. The Secured Party shall not be obligated to make any sale of Collateral regardless of notice of sale having been given. The Secured Party may adjourn any public or private sale from time to time by announcement at the time and place fixed therefor, and such sale may, without further notice, be made at the time and place to which it was so adjourned.
iii. All cash proceeds received by the Secured Party in respect to any sale of, collection from, or other realization upon all or any part of’ the Collateral may, in the discretion of the Secured Party, be held by the Secured Party as collateral for, and/or then or at any time thereafter applied (after payment of any amounts payable to the Secured Party pursuant to Section 14) in whole or in part by the Secured Party against, all or any part of the Obligations in such order as the Secured Party shall elect. Any surplus of such cash or cash proceeds held by the Secured Party and remaining after payment in full of all the Obligatio...
Remedies upon a Default. Immediately upon the occurrence of a Default, and notwithstanding anything to the contrary set forth herein or in any of the Loan Documents, (a) the Bank shall not be obligated to make any disbursements or advances to the Company, including any Revolving Loans, (b) the Bank shall have the right to accelerate the maturity of the Loans, (c) the Bank shall have the right to charge interest on any and all Obligations at a rate equal to five hundred (500) basis points above the non-default interest rate that would otherwise be in effect, regardless of whether such Obligation is accelerated or otherwise past due, and (d) the Bank shall have the default rights and remedies set forth in the Loan Documents and in any other document previously, now or hereafter executed and delivered to the Bank by the Company, the rights and remedies contained in this Agreement, and all rights and remedies existing under applicable law. All rights and remedies shall be cumulative and not exclusive, and the Bank shall have the right to exercise any and all other rights and remedies that may be available. Any action by the Bank against any property or party shall not serve to release or discharge any other security, property, or person in connection with this transaction.
Remedies upon a Default. UPON THE OCCURRENCE OF ANY EVENT OF DEFAULT SPECIFIED IN SECTION 3.2, UPON WRITTEN DEMAND BY THE HOLDER THIS NOTE SHALL BECOME IMMEDIATELY DUE AND PAYABLE AND THE BORROWER SHALL PAY TO THE HOLDER, IN FULL SATISFACTION OF ITS OBLIGATIONS HEREUNDER, AN AMOUNT EQUAL TO THE DEFAULT AMOUNT (AS DEFINED HEREIN). Upon the occurrence of any Event of Default specified in Sections 3.1, 3.3, 3.4, 3.5, 3.6, 3.7, 3.8, 3.9, 3.10, 3.11, 3.12, 3.13 and/or 3.14, solely upon written demand by the Holder, this Note shall become immediately due and payable and the Borrower shall pay to the Holder, in full satisfaction of its obligations hereunder, an amount equal to (i) 125% (plus an additional 5% per each additional Event of Default that occurs hereunder) multiplied by the then outstanding entire balance of this Note (including principal and accrued and unpaid interest) plus (ii) Default Interest from the date of the Event of Default, if any, plus (iii) any amounts owed to the Holder pursuant to Section 1.3(g) in addition to this Remedies Upon Default section (collectively, in the aggregate of all of the above, the “Default Amount”), and all other amounts payable hereunder shall immediately become due and payable, all without demand, presentment or notice, all of which hereby are expressly waived, together with all costs, including, without limitation, legal fees and expenses, of collection, and the Holder shall be entitled to exercise all other rights and remedies available at law or in equity.
Remedies upon a Default. 33 Section 7.02. Waiver of Default . . . . . . . . . . . . . . . . . . . . . 33 Section 7.03. Restoration of Rights and Remedies. . . . . . . . . . . . . 33 Section 7.04. No Remedy Exclusive . . . . . . . . . . . . . . . . . . . . 34
Remedies upon a Default. If a Default with respect to a Series has occurred and is continuing, the Collateral Agent shall, at the written direction of the Controlling Party, take whatever action at law or in equity as may appear necessary or desirable in the judgment of the Controlling Party to collect and satisfy all Secured Obligations, including, but not limited to, foreclosure upon the Collateral and all other rights available to secured parties under applicable law or to enforce performance and observance of any obligation, agreement or covenant under any of the Transaction Documents related to such Series.
Remedies upon a Default. If a Default has occurred and is continuing, the Collateral Agent shall, at the written direction of the Secured Party, take whatever action at law or in equity as may appear necessary or desirable in the judgment of the Secured Party to collect and satisfy all outstanding Secured Obligations including, but not limited to, foreclosure upon the Collateral and all other rights available to Secured Party under applicable law or to enforce performance and observance of any obligation, agreement or covenant under any of the Transaction Documents.
Remedies upon a Default. 35 Section 7.02.
Remedies upon a Default. 40 Section 7.02. Waiver of Default.........................................40 Section 7.03. Restoration of Rights and Remedies........................40 Section 7.04. No Remedy Exclusive.......................................41 ARTICLE VIII
