Retention of Collateral. In addition to the rights and remedies hereunder, the Administrative Agent may, in compliance with Sections 9-620 and 9-621 of the UCC or otherwise complying with the requirements of applicable Law of the relevant jurisdiction, accept or retain the Collateral in satisfaction of the Secured Obligations. Unless and until the Administrative Agent shall have provided such notices, however, the Administrative Agent shall not be deemed to have retained any Collateral in satisfaction of any Secured Obligations for any reason.
Appears in 46 contracts
Samples: Security and Pledge Agreement (I3 Verticals, Inc.), Security and Pledge Agreement (Good Times Restaurants Inc.), Security and Pledge Agreement (Duluth Holdings Inc.)
Retention of Collateral. In addition to the rights and remedies hereunder, the Administrative Agent may, in compliance with Sections 9-620 and 9-621 of the UCC or otherwise complying with the requirements of applicable Law of the relevant jurisdiction, accept or retain the Collateral in satisfaction of the Secured Obligations. Unless and until the Administrative Agent shall have provided such notices, however, the Administrative Agent shall not be deemed to have retained any Collateral in satisfaction of any Secured Obligations for any reason.
Appears in 13 contracts
Samples: Security and Pledge Agreement (Radius Recycling, Inc.), Security and Pledge Agreement (Balchem Corp), Security and Pledge Agreement (Trex Co Inc)
Retention of Collateral. In To the extent permitted under applicable law, in addition to the rights and remedies hereunder, upon the occurrence and during the continuation of an Event of Default, the Administrative Agent may, in compliance with after providing the notices required by Sections 9-620 and 9-621 of the UCC or otherwise complying with the requirements of applicable Law law of the relevant jurisdiction, accept or retain all or any portion of the Collateral in satisfaction of the Secured Obligations. Unless and until the Administrative Agent shall have provided such notices, however, the Administrative Agent shall not be deemed to have accepted or retained any Collateral in satisfaction of any Secured Obligations for any reason.
Appears in 13 contracts
Samples: Credit Agreement (Ryman Hospitality Properties, Inc.), Term Loan Credit Agreement (Ardent Health Partners, LLC), Credit Agreement (Ryman Hospitality Properties, Inc.)
Retention of Collateral. In addition to the rights and remedies hereunder, the Administrative Agent may, in compliance with Sections 9-620 and 9-621 of the UCC or otherwise complying with the requirements of applicable Applicable Law of the relevant jurisdiction, accept or retain the Collateral in satisfaction of the Secured Obligations. Unless and until the Administrative Agent shall have provided such notices, however, the Administrative Agent shall not be deemed to have retained any Collateral in satisfaction of any Secured Obligations for any reason.
Appears in 7 contracts
Samples: Security and Pledge Agreement (Agilysys Inc), Security and Pledge Agreement (Bowman Consulting Group Ltd.), Security and Pledge Agreement (Babcock & Wilcox Enterprises, Inc.)
Retention of Collateral. In addition to the rights and remedies hereunder, the The Administrative Agent may, in compliance with after providing the notices required by Sections 9-620 and 9-621 of the UCC or otherwise complying with the requirements of applicable Law law of the relevant jurisdiction, accept or retain all or any portion of the Pledged Collateral in satisfaction of the Secured Obligations. Unless and until the Administrative Agent shall have provided such notices, however, the Administrative Agent shall not be deemed to have accepted or retained any Pledged Collateral in satisfaction of any Secured Obligations for any reason.
Appears in 5 contracts
Samples: Credit Agreement (Griffin-American Healthcare REIT III, Inc.), Pledge Agreement (Griffin-American Healthcare REIT IV, Inc.), Pledge Agreement (Griffin-American Healthcare REIT III, Inc.)
Retention of Collateral. In addition to the rights and remedies hereunder, upon the occurrence of any Event of Default and during the continuation thereof, the Administrative Agent may, may retain all or a portion of the Collateral in compliance with satisfaction of the Secured Obligations but only after providing the notices required by Sections 9-620 and 9-621 (or similar provision) of the UCC (or any successor sections of the UCC) and otherwise complying with the requirements of applicable Law law of the relevant jurisdiction, accept or retain the Collateral in satisfaction of the Secured Obligations. Unless and until the Administrative Agent shall have provided such noticesnotices and complied with all applicable legal requirements, however, the Administrative Agent shall not be deemed to have retained any Collateral in satisfaction of any Secured Obligations for any reason.
Appears in 5 contracts
Samples: Security Agreement (Red Robin Gourmet Burgers Inc), Security Agreement (Red Robin Gourmet Burgers Inc), Security Agreement (Red Robin Gourmet Burgers Inc)
Retention of Collateral. In addition to the rights and remedies hereunder, the Administrative Agent may, in compliance with Sections 9-620 and 9-621 of the UCC or otherwise complying with the requirements of applicable Law law of the relevant jurisdiction, accept or retain the Collateral in satisfaction of the Secured Obligations. Unless and until the Administrative Agent shall have provided such notices, however, the Administrative Agent shall not be deemed to have retained any Collateral in satisfaction of any Secured Obligations for any reason.
Appears in 5 contracts
Samples: Credit Agreement (Aaron's Company, Inc.), Credit Agreement (Aaron's Company, Inc.), Security Agreement (Scholastic Corp)
Retention of Collateral. In addition to the rights and remedies hereunder, the The Administrative Agent may, in compliance with Sections 9-620 and 9-621 of the UCC or otherwise complying with the requirements of applicable Law law of the relevant jurisdiction, accept or retain the Collateral in satisfaction of the Secured Obligations. Unless and until the Administrative Agent shall have provided such notices, however, the Administrative Agent shall not be deemed to have retained any Collateral in satisfaction of any Secured Obligations for any reason.
Appears in 3 contracts
Samples: Security and Pledge Agreement (Inamed Corp), Credit Agreement (Sierra Health Services Inc), Security and Pledge Agreement (Team Health Inc)
Retention of Collateral. In addition to the rights and remedies hereunder, during the continuation of an Event of Default, the Administrative Agent may, in compliance with Sections 9-620 and 9-621 of the UCC or and otherwise complying with the requirements of applicable Law of the relevant jurisdiction, accept or retain all or any portion of the Collateral in satisfaction of the Secured Obligations. Unless and until the Administrative Agent shall have provided such notices, however, the Administrative Agent shall not be deemed to have retained any Collateral in satisfaction of any Secured Obligations for any reason.
Appears in 3 contracts
Samples: Security and Pledge Agreement (Interface Inc), Security and Pledge Agreement (Interface Inc), Security and Pledge Agreement (Interface Inc)
Retention of Collateral. In addition to the rights and remedies hereunder, the The Administrative Agent may, in compliance with after providing the notices required by Sections 9-620 and 9-621 of the UCC or otherwise complying with the requirements of applicable Law law of the relevant jurisdiction, accept or retain all or any portion of the Collateral in satisfaction of the Secured Obligations. Unless and until the Administrative Agent shall have provided such notices, however, the Administrative Agent shall not be deemed to have accepted or retained any Collateral in satisfaction of any Secured Obligations for any reason.
Appears in 3 contracts
Samples: Credit Agreement (Omega Healthcare Investors Inc), Security Agreement (Omega Healthcare Investors Inc), Security Agreement (PRG Schultz International Inc)
Retention of Collateral. In addition to the rights and remedies hereunder, the The Administrative Agent may, in compliance with Sections after providing the notices required by Section 9-620 and 9-621 505(2) of the UCC or otherwise complying with the requirements of applicable Law law of the relevant jurisdiction, accept or to the extent the Administrative Agent is in possession of any of the Collateral, retain the Collateral in satisfaction of the Secured Obligations. Unless and until the Administrative Agent shall have provided such notices, however, the Administrative Agent shall not be deemed to have retained any Collateral in satisfaction of any Secured Obligations for any reason.
Appears in 2 contracts
Samples: Credit Agreement (Modtech Holdings Inc), Security Agreement (Sleepmaster LLC)
Retention of Collateral. In addition to the rights and remedies hereunder, the Administrative Agent may, in compliance with Sections 9-620 and 9-621 of the UCC or otherwise complying with the requirements of applicable Law law of the relevant jurisdiction, accept or retain the Collateral in satisfaction of the Secured Obligations. Unless and until the Administrative Agent shall have provided such notices, however, the Administrative Agent shall not be deemed to have retained any Collateral in satisfaction of any Secured Obligations for any reason.
Appears in 2 contracts
Samples: Security Agreement (Altitude International Holdings, Inc.), Security Agreement (Blackboxstocks Inc.)
Retention of Collateral. In addition to the rights and remedies hereunder, upon the occurrence of any Event of Default and during the continuation thereof, the Administrative Agent may, may retain all or a portion of the Collateral in compliance with satisfaction of the Secured Obligations but only after providing the notices required by Sections 9-620 and 9-621 9‑621 (or similar provision) of the UCC (or any successor sections of the UCC) and otherwise complying with the requirements of applicable Law law of the relevant jurisdiction, accept or retain the Collateral in satisfaction of the Secured Obligations. Unless and until the Administrative Agent shall have provided such noticesnotices and complied with all applicable legal requirements, however, the Administrative Agent shall not be deemed to have retained any Collateral in satisfaction of any Secured Obligations for any reason.
Appears in 2 contracts
Samples: Security Agreement (Red Robin Gourmet Burgers Inc), Security Agreement (Red Robin Gourmet Burgers Inc)
Retention of Collateral. In addition to the rights and remedies hereunder, the The Administrative Agent may, in compliance with Sections 9-620 and 9-621 of the UCC or otherwise complying in compliance with the requirements of applicable Law law of the relevant jurisdiction, accept or retain the Collateral in satisfaction of the Secured Obligations. Unless and until the Administrative Agent shall have provided such noticesthe notices required pursuant to Sections 9-620 and 9-621 of the UCC or other applicable law, however, the Administrative Agent shall not be deemed to have retained any Collateral in satisfaction of any Secured Obligations for any reason.
Appears in 2 contracts
Samples: Revolving Credit Agreement (IASIS Healthcare LLC), Amended and Restated Credit Agreement (IASIS Healthcare LLC)
Retention of Collateral. In addition to the rights and remedies hereunder, the The Administrative Agent may, in compliance with Sections 9-620 and 9-621 after providing the notices required by Section 9A-620(a) of the UCC (or any successor sections of the UCC) or otherwise complying with the requirements any requirement of applicable Law of the relevant jurisdictionLaws, accept or retain the Collateral or any part thereof in satisfaction of the Secured Obligations. Unless and until the Administrative Agent shall have provided such notices, however, the Administrative Agent shall not be deemed to have retained any Collateral in satisfaction of any Secured Obligations for any reason.
Appears in 2 contracts
Samples: Credit Agreement (Flow International Corp), Credit Agreement (Flow International Corp)
Retention of Collateral. In addition to the rights and remedies hereunder, the Administrative Agent may, upon the occurrence of an Event of Default and during the continuance thereof, in compliance with Sections 9-620 and 9-621 of the UCC or otherwise complying with the requirements of applicable Law of the relevant jurisdiction, accept or retain the Collateral in satisfaction of the Secured Obligations. Unless and until the Administrative Agent shall have provided such notices, however, the Administrative Agent shall not be deemed to have retained any Collateral in satisfaction of any Secured Obligations for any reason.
Appears in 2 contracts
Samples: Security and Pledge Agreement (Newport Corp), Security and Pledge Agreement (Newport Corp)
Retention of Collateral. In addition to the rights and remedies hereunder, upon the occurrence and during the continuance of an Event of Default, the Administrative Agent may, in compliance with Sections 9-620 and 9-621 of the UCC or otherwise complying with the requirements of applicable Law of the relevant jurisdiction, accept or retain the Collateral in satisfaction of the Secured Obligations. Unless and until the Administrative Agent shall have provided such notices, however, the Administrative Agent shall not be deemed to have retained any Collateral in satisfaction of any Secured Obligations for any reason.
Appears in 2 contracts
Samples: Security and Pledge Agreement (Hain Celestial Group Inc), Security and Pledge Agreement (Hain Celestial Group Inc)
Retention of Collateral. In addition to the rights and remedies hereunder, the The Administrative Agent may, in compliance with Sections after ------------------------ providing the notices required by Section 9-620 and 9-621 505(2) of the UCC or otherwise complying with the requirements of applicable Law law of the relevant jurisdiction, accept or to the extent the Administrative Agent is in possession of any of the Collateral, retain the Collateral in satisfaction of the Secured Obligations. Unless and until the Administrative Agent shall have provided such notices, however, the Administrative Agent shall not be deemed to have retained any Collateral in satisfaction of any Secured Obligations for any reason.
Appears in 2 contracts
Samples: Security Agreement (Racing Champions Corp), Security Agreement (Policy Management Systems Corp)
Retention of Collateral. In addition to the rights and remedies hereunder, upon the occurrence and during the continuance of an Event of Default the Administrative Agent may, in compliance with shall have the rights afforded to a secured party under Sections 9-620 and 9-621 (or similar provision) of the UCC or otherwise complying with the requirements of applicable Law of the relevant jurisdiction, accept or retain the Collateral in satisfaction of the Secured ObligationsUCC. Unless and until the Administrative Agent shall have provided such notices, however, the The Administrative Agent shall not be deemed to have retained any Collateral pledged by any Obligor in satisfaction of any Secured Obligations for any reasonunless and until the Administrative Agent shall have entered into a written agreement with such Obligor to that effect.
Appears in 2 contracts
Samples: Credit Agreement (Jw Childs Equity Partners Ii Lp), Credit Agreement (Signal Medical Services)
Retention of Collateral. In addition to the rights and remedies hereunder, the Administrative Agent may, in compliance with Sections 9-620 and 9-621 of the UCC or otherwise complying with the requirements of applicable Law law of the relevant jurisdiction, accept or retain the Collateral in satisfaction of the Secured Obligations. Unless and until the Administrative Agent shall have provided such notices, however, the Administrative Agent shall not be deemed to have accepted or retained any Collateral in satisfaction of any Secured Obligations for any reason.
Appears in 2 contracts
Samples: Security Agreement (Amedisys Inc), Security Agreement (Amedisys Inc)
Retention of Collateral. In addition to the rights and remedies hereunder, the The Administrative Agent may, in compliance with Sections after providing the notices required by Section 9-620 and 9-621 of the UCC or otherwise complying with the requirements of applicable Law law of the relevant jurisdiction, accept or to the extent the Administrative Agent is in possession of any of the Collateral, retain the Collateral in satisfaction of the Secured Obligations. Unless and until the Administrative Agent shall have provided such notices, however, the Administrative Agent shall not be deemed to have retained any Collateral in satisfaction of any Secured Obligations for any reason.
Appears in 1 contract
Samples: Revolving Credit Agreement (Delek US Holdings, Inc.)
Retention of Collateral. In addition to the rights and remedies hereunder, the Administrative Agent may, in compliance with Sections 9-620 and 9-621 of the UCC or otherwise complying with the requirements of applicable Law law of the relevant jurisdiction, accept or retain all or any portion of the Collateral in satisfaction of the Secured Obligations. Unless and until the Administrative Agent shall have provided such notices, however, the Administrative Agent shall not be deemed to have accepted or retained any Collateral in satisfaction of any Secured Obligations for any reason.
Appears in 1 contract
Retention of Collateral. In addition to the rights and remedies hereunder, during the continuation of an Event of Default, the Administrative Agent may, in compliance with Sections 9-620 and 9-621 of the UCC or otherwise complying with the requirements of applicable Applicable Law of the relevant jurisdiction, accept or retain the Collateral in satisfaction of the Secured Obligations. Unless and until the Administrative Agent shall have provided such notices, however, the Administrative Agent shall not be deemed to have retained any Collateral in satisfaction of any Secured Obligations for any reason.
Appears in 1 contract
Retention of Collateral. In addition to the rights and remedies hereunder, the Administrative Agent may, in compliance with Sections 9-620 and 9-621 of the UCC Uniform Commercial Code or otherwise complying with the requirements of applicable Law of the relevant jurisdiction, accept or retain the Collateral in satisfaction of the Secured Obligations. Unless and until the Administrative Agent shall have provided such notices, however, the Administrative Agent shall not be deemed to have retained any Collateral in satisfaction of any Secured Obligations for any reason.
Appears in 1 contract
Retention of Collateral. In addition to the rights and remedies hereunder, the Administrative Agent may, in compliance with Sections 9-620 and 9-621 of the UCC or otherwise complying with the requirements of applicable Law Laws of the relevant jurisdiction, accept or retain the Collateral in satisfaction of the Secured Obligations. Unless and until the Administrative Agent shall have provided such written notices, however, the Administrative Agent shall not be deemed to have retained any Collateral in satisfaction of any Secured Obligations for any reason.
Appears in 1 contract
Samples: Security and Pledge Agreement (Nutri System Inc /De/)
Retention of Collateral. In addition to the rights and remedies hereunder, the Administrative Agent may, upon the occurrence of an Event of Default and during the continuation thereof, in compliance with Sections 9-620 and 9-621 of the UCC or otherwise complying with the requirements of applicable Law of the relevant jurisdiction, accept or retain the Collateral in satisfaction of the Secured Obligations. Unless and until the Administrative Agent shall have provided such notices, however, the Administrative Agent shall not be deemed to have retained any Collateral in satisfaction of any Secured Obligations for any reason.
Appears in 1 contract
Samples: Security and Pledge Agreement (FreightCar America, Inc.)
Retention of Collateral. In addition to the rights and remedies hereunder, the The Administrative Agent may, in compliance with after providing the notices required by Sections 9-620 and 9-621 of the UCC or otherwise complying with the requirements of the applicable Law law of the relevant jurisdiction, accept or retain the Collateral in satisfaction of the Secured Obligations. Unless and until the Administrative Agent shall have provided such notices, however, the Administrative Agent shall not be deemed to have retained any Collateral in satisfaction of any Secured Obligations for any reason.
Appears in 1 contract
Samples: Security Agreement (Dean Holding Co)
Retention of Collateral. In addition to the rights and remedies hereunder, the The Administrative Agent may, in compliance with Sections 9-620 and 9-621 after providing the notices required by Section 9A-505(2) of the UCC or otherwise complying with the requirements any requirement of applicable Law of the relevant jurisdictionLaws, accept or retain the Collateral or any part thereof in satisfaction of the Secured Obligations. Unless and until the Administrative Agent shall have provided such notices, however, the Administrative Agent shall not be deemed to have retained any Collateral in satisfaction of any Secured Obligations for any reason.
Appears in 1 contract
Samples: Credit Agreement (Getty Images Inc)
Retention of Collateral. In addition to the rights and remedies hereunder, the Administrative Agent may, in compliance with Sections 9-620 9.620 and 9-621 9.621 of the UCC or otherwise complying with the requirements of applicable Law of the relevant jurisdiction, accept or retain the Collateral in satisfaction of the Secured Obligations. Unless and until the Administrative Agent shall have provided such notices, however, the Administrative Agent shall not be deemed to have retained any Collateral in satisfaction of any Secured Obligations for any reason.
Appears in 1 contract
Retention of Collateral. In addition to the rights and remedies hereunder, upon the occurrence and during the continuation of an Event of Default, the Administrative Agent may, in compliance with Sections 9-620 and 9-621 of the UCC or otherwise complying with the requirements of applicable Law of the relevant jurisdiction, accept or retain the Collateral in satisfaction of the Secured Obligations. Unless and until the Administrative Agent shall have provided such notices, however, the Administrative Agent shall not be deemed to have retained any Collateral in satisfaction of any Secured Obligations for any reason.
Appears in 1 contract
Samples: Security and Pledge Agreement (Silicon Laboratories Inc)
Retention of Collateral. In addition to the rights and remedies hereunder, upon the occurrence and during the continuation of an Event of Default, the Administrative Agent may, in compliance with Sections 9-620 and 9-621 of the UCC or otherwise complying with the requirements of applicable Law of the relevant jurisdiction, accept or retain the Collateral in satisfaction of the Secured Obligations. Unless and until the Administrative Agent shall have provided such notices, however, the Administrative Agent shall not be deemed to have retained any Collateral in satisfaction of any Secured Obligations for any reason.
Appears in 1 contract
Samples: Security and Pledge Agreement (Grand Canyon Education, Inc.)
Retention of Collateral. In addition to the rights and remedies hereunder, the The Administrative Agent may, in compliance with after providing the notices required by Sections 9-620 and 9-621 (or similar provision) of the UCC (or any successor sections of the UCC) or otherwise complying with the requirements of applicable Law law of the relevant jurisdiction, accept or retain the Collateral in satisfaction of the Secured Obligations. Unless and until the Administrative Agent shall have provided such notices, however, the Administrative Agent shall not be deemed to have retained any Collateral in satisfaction of any Secured Obligations for any reason.
Appears in 1 contract
Samples: Master Financing Agreement (Zap)
Retention of Collateral. In addition to the rights and remedies hereunder, the The Administrative Agent may, in compliance with Sections 9-620 and 9-621 of the UCC or otherwise complying in compliance with the requirements of applicable Law law of the relevant jurisdiction, accept or retain the Collateral in satisfaction of the Secured Obligations. Unless and until the Administrative Agent shall have provided such notices, however, the Administrative Agent shall not be deemed to have retained any Collateral in satisfaction of any Secured Obligations for any reason.
Appears in 1 contract
Retention of Collateral. In addition to the rights and remedies hereunder, the Administrative Agent may, in compliance with Sections 9-620 and 9-621 of the UCC or otherwise complying with the requirements of applicable Law law of the relevant jurisdiction, accept or retain all or any portion of the Collateral in satisfaction of the Secured Obligations. Unless and until the Administrative Agent shall have provided such notices, however, the Administrative Agent shall not be deemed to have accepted or retained any Collateral in satisfaction of any Secured Obligations for any reason.
Appears in 1 contract
Retention of Collateral. In addition to the rights and remedies hereunder, the Administrative Agent may, in compliance with Sections 9-620 and 9-621 of the UCC or otherwise complying with the requirements of applicable Applicable Law of the relevant jurisdiction, accept or retain the Collateral in satisfaction of the Secured Obligations. Unless and until the Administrative Agent shall have provided such notices, however, the Administrative Agent shall not be deemed to have retained any Collateral in satisfaction of any Secured Obligations Obligation for any reason.
Appears in 1 contract
Samples: Security and Pledge Agreement (Standard Premium Finance Holdings, Inc.)
Retention of Collateral. In addition to the rights and remedies hereunder, the Administrative Agent may, in compliance with Sections 9-620 and 9-621 Section 61 of the UCC PPSA or otherwise complying with the requirements of applicable Law of the relevant jurisdiction, accept or retain the Collateral in satisfaction of the Secured Obligations. Unless and until the Administrative Agent shall have provided such notices, however, the Administrative Agent shall not be deemed to have retained any Collateral in satisfaction of any Secured Obligations for any reason.
Appears in 1 contract
Samples: Canadian Security and Pledge Agreement (Radius Recycling, Inc.)
Retention of Collateral. In addition to the rights and remedies hereunder, the Administrative Agent may, in compliance with Sections 9-620 9–620 and 9-621 9–621 of the UCC UCC, or otherwise complying in compliance with the requirements of applicable Law of the relevant jurisdiction, accept or retain the Collateral in satisfaction of the Secured Obligations. Unless and until the Administrative Agent shall have provided such any required notices, however, the Administrative Agent shall not be deemed to have retained any Collateral in satisfaction of any Secured Obligations for any reason.
Appears in 1 contract
Samples: Security and Pledge Agreement (Rotech Healthcare Holdings Inc.)
Retention of Collateral. In addition to the rights and remedies hereunder, the Administrative Agent may, in compliance with Sections 9-620 and 9-621 of the UCC or otherwise complying with the requirements of applicable Law of the relevant jurisdiction, accept or retain the Collateral in satisfaction of the Secured Obligations. Unless and until the Administrative Agent shall have provided such notices, however, the Administrative Agent shall not be deemed to have retained any Collateral in satisfaction of any Secured Obligations for any reason.
Appears in 1 contract
Retention of Collateral. In addition to the rights Unless and remedies hereunder, until the Administrative Agent may, in compliance with shall have provided the notices required under Sections 9-620 and 9-621 of the UCC or otherwise complying complied with the requirements of applicable Law of the relevant jurisdiction, accept or retain the Collateral in satisfaction of the Secured Obligations. Unless and until the Administrative Agent shall have provided such notices, however, the Administrative Agent shall not be deemed to have retained any Collateral in satisfaction of any Secured Obligations for any reason.
Appears in 1 contract
Retention of Collateral. In addition to the rights and remedies hereunder, the Administrative Agent may, in compliance with Sections 9-620 9.620 and 9-621 9.621 of the UCC or otherwise complying with the requirements (including without limitation any notice requirements) of applicable Law of the relevant jurisdiction, accept or retain the Collateral in satisfaction of the Secured Obligations. Unless and until the Administrative Agent shall have provided such notices, however, the Administrative Agent shall not be deemed to have retained any Collateral in satisfaction of any Secured Obligations for any reason.
Appears in 1 contract
Retention of Collateral. In addition to the rights and remedies hereunder, the Administrative Agent maymay (but is not obligated to), in compliance with Sections 9-620 and 9-621 of the UCC or otherwise complying with the requirements of applicable Law of the relevant jurisdiction, accept or retain the Collateral in satisfaction of the Secured Obligations. Unless and until the Administrative Agent shall have provided such notices, however, the Administrative Agent shall not be deemed to have retained any Collateral in satisfaction of any Secured Obligations for any reason.
Appears in 1 contract
Retention of Collateral. In addition to the rights and remedies hereunder, the Administrative Agent may, in compliance with Sections 9-620 and 9-621 of the UCC or otherwise complying with the requirements of applicable Law of the relevant jurisdiction, accept or retain the Collateral in satisfaction of the Secured Obligations. Unless and until the Administrative Agent shall have provided such notices, however, the Administrative Agent shall not be deemed to have retained any Collateral in satisfaction of any Secured Obligations Obligation for any reason.
Appears in 1 contract