Common use of Rights of Agent upon Default Clause in Contracts

Rights of Agent upon Default. Upon the occurrence and during the continuance of any Event of Default and subject to the terms of the Loan Agreement regarding the exercise of remedies upon an Event of Default, or from and after such time as the Agent determines that based on all the facts and circumstances then existing, and in the exercise of its commercially reasonable judgment, the Agent believes that Fraud has occurred, the Agent shall have and at any time may exercise with respect to the Pledged Collateral, the proceeds thereof, and any other property or money held by the Agent hereunder, all rights and remedies available to it under law, including, without limitation, those given, allowed or permitted to a secured party by or under the Code, and all rights and remedies provided for herein and in the Loan Agreement.

Rights of Agent upon Default. Upon the occurrence and during the continuance of any Event of Default and subject to the terms of the Loan Agreement regarding the exercise of remedies upon an Event of Default, or from and after such time as the Agent determines that based on all the facts and circumstances then existing, and in the exercise of its commercially reasonable judgment, the Agent believes that Fraud has occurred, subject to the Subordination Agreement, the Agent shall have and at any time may exercise with respect to the Pledged Collateral, the proceeds thereof, and any other property or money held by the Agent hereunder, all rights and remedies available to it under law, including, without limitation, those given, allowed or permitted to a secured party by or under the Code, and all rights and remedies provided for herein and in the Loan Purchase Agreement.