Remedies Upon Occurrence of an Event of Default. 7.1 Remedies; Obtaining the Collateral Upon Default. Each Assignor agrees that, if any Event of Default shall have occurred and be continuing, then and in every such case, the Collateral Agent, in addition to any rights now or hereafter existing under applicable law and under the other provisions of this Agreement, shall have all rights as a secured creditor under any UCC, and such additional rights and remedies to which a secured creditor is entitled under the laws in effect in all relevant jurisdictions and may to the fullest extent permitted by applicable law:
(i) personally, or by agents or attorneys, immediately take possession of the Collateral or any part thereof, from such Assignor or any other Person who then has possession of any part thereof with or without notice or process of law, and for that purpose may enter upon such Assignor's premises where any of the Collateral is located and remove the same and use in connection with such removal any and all services, supplies, aids and other facilities of such Assignor;
(ii) instruct the obligor or obligors on any agreement, instrument or other obligation (including, without limitation, the Accounts and the Contracts) constituting the Collateral to make any payment required by the terms of such agreement, instrument or other obligation directly to the Collateral Agent and may exercise any and all remedies of such Assignor in respect of such Collateral;
(iii) instruct all banks which have entered into a control agreement with the Collateral Agent to transfer all monies, securities and instruments held by such depositary bank to the Cash Collateral Account;
(iv) sell, assign or otherwise liquidate any or all of the Collateral or any part thereof in accordance with Section 7.2 hereof, or direct the relevant Assignor to sell, assign or otherwise liquidate any or all of the Collateral or any part thereof, and, in each case, take possession of the proceeds of any such sale or liquidation;
(v) take possession of the Collateral or any part thereof, by directing the relevant Assignor in writing to deliver the same to the Collateral Agent at any reasonable place or places designated by the Collateral Agent, in which event such Assignor shall at its own expense:
Remedies Upon Occurrence of an Event of Default. Remedies; Obtaining the Collateral Upon an Event of Default 16 7.2 Remedies; Disposition of the Collateral 17 7.3 Waiver of Claims 18 7.4 Application of Proceeds 18 7.5 Remedies Cumulative 20 7.6 Discontinuance of Proceedings 20
Remedies Upon Occurrence of an Event of Default. 7.1. Remedies; Obtaining the Collateral Upon Default
7.2. Remedies; Disposition of the Collateral 7.3. Waiver of Claims 7.4. Application of Proceeds 7.5. Remedies Cumulative 7.6. Discontinuance of Proceedings ARTICLE VIII INDEMNITY 8.1. Indemnity 8.2. Indemnity Obligations Secured by Collateral; Survival
Remedies Upon Occurrence of an Event of Default. If any Event of Default shall have occurred and be continuing, then and in such case:
Remedies Upon Occurrence of an Event of Default. Section 5.1 Remedies; Obtaining the Collateral Upon Default. 19 Section 5.2 Remedies; Disposition of the Collateral. 21 Section 5.3 ULC Shares. 22 Section 5.4 Receiver's Powers. 23 Section 5.5 Waiver of Claims. 23 Section 5.6 Application of Proceeds. 24 Section 5.7 Remedies Cumulative. 27 Section 5.8 Discontinuance of Proceedings. 28
Remedies Upon Occurrence of an Event of Default. If an Event of Default shall have occurred and be continuing:
(a) At the option of the Seller, if the Issuer is the defaulting party (it being understood that the Issuer shall be deemed to be the defaulting party only upon the occurrence of an Event of Default specified in Section 2.5(a), (b), (d) or (e) with respect to the Issuer), or if the Seller is the defaulting party, the Administrative Agent (at the direction of both Agents), exercised by written notice to the other party, as the case may be (which option shall be deemed to have been exercised, even if no notice is given, immediately upon the occurrence of an Act of Insolvency or the occurrence of an Insurance Agreement Event of Default which the Security Insurer specifies in writing shall have such effect), the Repurchase Date for each Transaction hereunder shall be deemed immediately to occur or, if a Recapitalization has occurred, the Amortization Date shall be deemed immediately to occur and, in either case, if the Seller is the defaulting party, all outstanding Advances shall be and become immediately due and payable hereunder without notice or any further action; provided, that from and after a Recapitalization, the Seller shall have no liability to repay the Advances, which shall be payable solely from the Collateral.
(b) If the defaulting party is the Seller and if the Issuer or the Administrative Agent exercises or is deemed to have exercised the option referred to in paragraph (a) of this Section, (i) prior to a Recapitalization, the Seller's obligations hereunder to repurchase all Receivables shall thereupon become immediately due and payable, and (ii) the Seller shall immediately deliver to the Issuer any Receivables subject to such Transactions then in the Seller's custody or possession.
(c) Prior to a Recapitalization, if the defaulting party is the Issuer, the Seller may, against transfer to the Seller of the Receivables, tender payment of the aggregate Repurchase Price for all of the Receivables, whereupon the Issuer's right, title and interest in all of the Receivables shall be deemed transferred to the Seller.
(d) If the defaulting party is the Seller or if an Event of Default specified in Section 2.5(o) shall occur, after one Business Day's notice to the Seller (which notice need not be given if an Act of Insolvency shall have occurred and which may be the notice given under subparagraph (a) of this Section), the Controlling Party, as agent of the Issuer, may exercise any or all o...
Remedies Upon Occurrence of an Event of Default. For the avoidance of doubt, the provisions of SECTION 8.1, SECTION 8.2 and SECTION 8.4 shall apply only upon the occurrence and during the continuance of an Event of Default.
Remedies Upon Occurrence of an Event of Default. If an Event of Default shall occur and be continuing, then Mortgagee may proceed to enforce its rights hereunder.
Remedies Upon Occurrence of an Event of Default. Remedies; Obtaining the Collateral Upon Default. Each Grantor agrees that, subject to any Applicable Intercreditor Agreement, if any Event of Default shall have occurred and be continuing, then and in every such case, the Collateral Agent, in addition to any rights now or hereafter existing under applicable law and under the other provisions of this Agreement, shall have all rights as a secured creditor under the PPSA or other applicable law, and such additional rights and remedies to which a secured creditor is entitled under the laws in effect in all relevant jurisdictions and may:
Remedies Upon Occurrence of an Event of Default. 31 Section 9.1 Remedies; Obtaining the Collateral Upon Default 31 Section 9.2 Remedies; Disposition of the Collateral 32 Section 9.3 Waiver of Claims 33 Section 9.4 Application of Proceeds 34 Section 9.5 Remedies Cumulative 34 Section 9.6 Discontinuance of Proceedings 35 ARTICLE X INDEMNITY 35 Section 10.1 Indemnity 35 Section 10.2 Indemnity Obligations Secured by Collateral; Survival 36 ARTICLE XI DEFINITIONS 36 ARTICLE XI I MISCELLANEOUS 43 Section 12.1 Notices 43 Section 12.2 Waiver; Amendment 44 Section 12.3 Obligations Absolute 44 Section 12.4 Successors and Assigns 44 Section 12.5 Headings Descriptive 45
