Rights in Event of Default. (a) Upon the occurrence of an Event of Default hereunder, and at any time thereafter, in addition to the rights granted pursuant to Section 6.1 hereof, but subject to the provisions of the Notes, Secured Party may declare the Secured Indebtedness immediately due and payable. Upon the acceleration of the Secured Indebtedness, Secured Party shall have the right to sell, lease or otherwise dispose of any or all of the Collateral and the right to take possession of the Collateral, and for that purpose Secured Party may enter upon any premises on which the Collateral or any part thereof may be situated and remove the Collateral or books and records evidencing same, or may require Borrower to assemble the Collateral and make it available to Secured Party at a place to be designated by Secured Party which is reasonably convenient to both parties. Unless the Collateral is perishable or threatens to decline speedily in value or is of a type customarily sold on a recognized market, Secured Party will send Borrower reasonable notice of the time and place of any public sale thereof or of the time after which any private sale or other disposition thereof is to be made. The requirement of sending reasonable notice shall be met if such notice is mailed, postage prepaid, to Borrower at the address designated in this Agreement at least five (5) days before the time of the sale or disposition. Expenses of retaking, holding, preparing for sale, selling or the like shall include Secured Party's attorneys' fees and legal expenses, plus interest thereon at the maximum non-usurious rate permitted by applicable law with respect to Borrower and shall constitute part of the Secured Indebtedness. Borrower shall remain liable for any deficiency.
(b) Secured Party may, but is not obligated to, exercise at any time and from time to time after the acceleration of the Secured Indebtedness, in its name or in the name of Borrower, all or any of Borrower's rights including, but not limited to, the following powers, with respect to all or any of the Collateral:
(1) to instruct account debtors and lessees to pay Accounts and Rental Agreements directly to Secured Party or to a post office box address over which Secured Party has control;
(2) to demand, sue xxx, collect, receive and give acquittance for any and all moneys due or to become due upon or by virtue thereof;
(3) to receive, take, execute, sign, endorse, transfer, assign and deliver any and all checks, notes, drafts, documents and oth...
Rights in Event of Default. In the Event of Default under this Section 11, and in addition to all other remedies available in law or equity, the nondefaulting party, if not itself in default, shall be entitled to terminate this Agreement, at its sole and exclusive election, upon written notice to the other party, and all rights and obligations hereunder shall cease as of such notice date, except the rights and obligations set forth in Section 12 of this Agreement shall survive such termination for claims arising from acts or omissions occurring during the time this Agreement was in full force and effect.
Rights in Event of Default. In the event that Contractor/Supplier fails to comply with any of the terms or provisions of this Contract, declares bankruptcy, makes a general assignment for the benefit of its creditors, has a receiver appointed on account of its insolvency, or is not generally paying its debts when due, then, in any such event, the University shall have all rights available to it as a result thereof at law or in equity, including, without limitation, the right to cancel, by written notice to Contractor/Supplier, all or any part of this Contract without liability to Contractor/Supplier.
Rights in Event of Default. In the event that a Hong Kong Underwriter defaults in any of its obligations under this Agreement and/or the Hong Kong Underwriting Agreement, the Global Coordinator shall have the right in its sole and absolute discretion (but not the obligation) to do one or more of the following: submit Application Forms for and to effect payment of the total amount payable for the Hong Kong Offer Shares by that Hong Kong Underwriter pursuant to the terms of the Hong Kong Underwriting Agreement; in the event of default in payment, the Global Coordinator shall have the right (but not the obligation) to borrow and/or fund on behalf of and without reference to that Hong Kong Underwriter an amount equal to but not more than the amount necessary to effect the payment for the defaulting Hong Kong Underwriter; for every 24 hours such payment remains unpaid, to charge the defaulting Hong Kong Underwriter interest on the defaulted amount calculated on the basis of 2% per annum over the best lending rate for Hong Kong dollars quoted by The Hongkong and Shanghai Banking Corporation Limited; to take delivery of all or part of its Hong Kong Public Offering Underwriting Commitment and at any time sell any Hong Kong Offer Shares so taken up to repay all or any part of the amount owing to it by such defaulting Hong Kong Underwriter; and to claim from such defaulting Hong Kong Underwriter the amount of any shortfall as a result of Clause 10.1.4 above.
Rights in Event of Default. 1. Upon the occurrence of an Event of Default, and at any time thereafter the Secured Party may declare all obligations secured hereby immediately due and payable and shall have the rights and remedies of a Secured Party under the Texas Business and Commerce Code, including without limitation thereto, the right to sell, lease or otherwise dispose of any or all of the Collateral and the right to take possession of the Collateral. Unless the Collateral is perishable or threatens to decline speedily in value or is of a type customarily sold on a recognized market, the Secured Party will send the Debtor reasonable notice of the time and place of any public sale thereof or of the time after which any private sale or other disposition thereof is to be made. The requirement of sending reasonable notice shall be met if such notice is mailed, postage prepaid, to the Debtor at 203 Colorado, Xxxxxx, Xxxxx 00000, Attention: Chief Financial Officer (with a required copy to General Counsel at the same address) at least ten (10) days before the time of the sale or disposition. Expenses of retaking, holding, preparing for sale, selling or the like shall include the Secured Party’s reasonable attorney’s fees and legal expenses, and the Debtor agrees to pay such expenses, plus interest thereon at the Default Rate. The Debtor shall remain liable for any deficiency.
2. The Secured Party may remedy any default and may waive any default without waiving any other prior or subsequent default.
3. The Secured Party may notify the account debtors or obligors of any accounts, chattel paper, negotiable instruments or other evidences of indebtedness remitted by the Debtor to the Secured Party as proceeds to pay the Secured Party directly.
4. The Secured Party may demand, xxx for, collect or make any compromise or settlement with reference to the Collateral as the Secured Party, in its sole discretion, chooses.
5. The remedies of the Secured Party hereunder are cumulative, and the exercise of any one or more of the remedies provided for herein shall not be construed as a waiver of any of the other remedies of the Secured Party.
Rights in Event of Default. In any such event described in Subparagraph A above, at the option of Licensor, Licensor may:
(i) revoke and terminate the License granted hereby whereupon the Term shall expire and end and Licensor may retake possession of the Premises in any manner provided at law; and/or
(ii) exercise any rights or use any remedies or procedures available in law or equity, which may be cumulative with those in item (i) of this Subparagraph.
Rights in Event of Default. In the event that the Contractor/Supplier fails to comply with any of the terms or provisions of this Contract, declares bankruptcy, makes a general assignment for the benefit of its creditors, has a receiver appointed on account of its insolvency, or is generally not paying its debts when due, then, in any such event, the University shall have all rights available to it as a result thereof at law or in equity, including, without limitation, the right to cancel, by written notice to the Contractor/Supplier, all or any part of this Contract, including any Order that has not been fully performed or otherwise completed, without liability to the Contractor/Supplier.
Rights in Event of Default. Upon the occurrence of an Event of Default, and at any time thereafter, Secured Party:
(a) may declare all obligations secured hereby immediately due and payable (which amount shall include expenses of retaking, holding, preparing for sale, selling, or the like and reasonable attorneys' fees);
(b) shall have the rights and remedies of a Secured Party under the Uniform Commercial Code of New York, including, without limitation thereto, the right to sell, lease, or otherwise dispose of any or all of the Collateral and the right to take possession of the Collateral, and for that purpose Secured Party may enter upon any premises on which the Collateral or any part thereof may be situated and remove the same therefrom;
(c) may require Pledgor to assemble the Collateral and make it available to Secured Party at a place to be designated by Secured Party which is reasonably convenient to both parties;
(d) will, unless the Collateral is perishable or threatens to decline speedily in value or is of a type customarily sold on a recognized market, send Pledgor reasonable notice of the time and place of any public sale thereof or of the time after which any private sale or other disposition thereof is to be made (the requirement of sending reasonable notice shall be met if such notice is mailed, postage prepaid, to Pledgor at the address designated at the beginning of this Agreement at least five (5) business days before the time of the sale or disposition).
Rights in Event of Default. (1) Upon the occurrence of an Event of Default, or if Secured Party deems payment of Debtor's obligations to Secured Party to be insecure, and at any time thereafter, Secured Party may declare all obligations secured hereby immediately due and payable and shall have the rights and remedies of a Secured Party under the Uniform Commercial Code as enacted in the State of Georgia, O.C.G.A.
Rights in Event of Default. (1) Upon the occurrence of an Event of Default, or if Secured Party deems payment of Debtor's obligations to Secured Party to be insecure, and at any time thereafter, Secured Party may declare all obligations secured hereby immediately due and payable and shall have the rights and remedies of a Secured Party under the Uniform Commercial Code as enacted in the State of Georgia, O.C.G.A. ss.11-9, and all other applicable laws, including without limitation thereto, the right to sell, lease or otherwise dispose of any or all of the Collateral and the right to take possession of the Collateral, and for that purpose Secured Party may enter upon any premises on which the Collateral or any part thereof may be situated and remove the same therefrom. Secured Party may require Debtor to assemble the Collateral and make it available to Secured Party at a place to be designated by Secured Party which is reasonably convenient to both parties. Unless Collateral threatens to decline speedily in value or is a type customarily sold in a recognized market, Secured Party will give Debtor reasonable notice of the time and place of any public sale thereof or of the time after which any private or any other intended disposition thereof is to be made. The requirements of reasonable notice shall be met as such notice is mailed, postage prepaid, to the address of Debtor shown at the beginning of this Security Agreement at least five (5) days before the time of sale or disposition. After sale, all monies will be applied to amounts outstanding under the Floor Plan Agreement, the Note and this Security Agreement, and Debtor will be liable for any remaining deficiencies. Expenses of retaking, holding, preparing for sale, selling or the like shall include Secured Party's reasonable attorneys' fees and legal expenses, plus interest thereon at the highest legal rate per annum. Debtor shall remain liable for any deficiency.
(2) Secured Party may remedy any default without waiving the default remedied or without waiving any other prior or subsequent default. Secured Party may remedy any default and may waive any default without waiving any other prior or subsequent default.
(3) The remedies of Secured Party hereunder are cumulative, and the exercise of any one or more of the remedies provided for herein shall not be construed as a waiver of any of the other remedies of Secured Party.
(4) Debtor hereby waives all rights which Debtor has or may have under and by virtue of O.C.G.A. ss.44-14, i...
