Retention of Pledged Collateral. The Pledgee may, after providing the notices required by Section 9A-505(2) of the UCC or otherwise complying with any requirement of applicable law, accept or retain the Pledged Collateral or any part thereof in satisfaction of the Secured Obligations. Unless and until the Pledgee shall have provided such notices, however, the Pledgee shall not be deemed to have retained any Pledged Collateral in satisfaction of any Secured Obligations for any reason.
Appears in 3 contracts
Samples: Master Royalty and Use Agreement (Clearwire Corp), Master Royalty and Use Agreement (Clearwire Corp), Spectrum Access and Loan Facility Agreement (Clearwire Corp)
Retention of Pledged Collateral. The Pledgee may, after providing the notices required by Section 9A-505(29-620(a) of the UCC or otherwise complying with any requirement of applicable lawLaw, accept or retain the Pledged Collateral or any part thereof in satisfaction of the Secured Obligations. Unless and until the Pledgee shall have provided such notices, however, the Pledgee shall not be deemed to have retained any Pledged Collateral in satisfaction of any Secured Obligations for any reason.
Appears in 2 contracts
Samples: Credit Agreement (Usana Health Sciences Inc), Credit Agreement (Planar Systems Inc)
