We use cookies on our site to analyze traffic, enhance your experience, and provide you with tailored content.

For more information visit our privacy policy.

Common use of Rights of Enforcement Clause in Contracts

Rights of Enforcement. The Agent shall have all of the rights and remedies of a secured party upon default then available to the Agent under the UCC, in addition to which the Agent shall have all and each of the following rights and remedies upon an Event of Default and Acceleration: (a) To give notice to any bank at which any DDA or Blocked Account is maintained and in which Proceeds of Collateral are deposited, to turn over such Proceeds directly to the Agent. (b) To give notice to any of the Borrower’s customs brokers to follow the instructions of the Agent as provided in any written agreement or undertaking of such broker in favor of the Agent. (c) To collect the Receivables Collateral with or without the taking of possession of any of the Collateral. (d) To take possession of all or any portion of the Collateral. (e) To sell, lease, or otherwise dispose of any or all of the Collateral, in its then condition or following such preparation or processing as the Agent deems advisable and with or without the taking of possession of any of the Collateral. (f) To conduct one or more going out of business sales which include the sale or other disposition of the Collateral. (g) To apply the Receivables Collateral or the Proceeds of the Collateral towards (but not necessarily in complete satisfaction of) the Liabilities. (h) To exercise all or any of the rights, remedies, powers, privileges, and discretions under all or any of the Loan Documents.

Appears in 2 contracts

Samples: Loan and Security Agreement (Hastings Entertainment Inc), Loan and Security Agreement (Hastings Entertainment Inc)

Rights of Enforcement. The Subject to the terms of the Intercreditor Agreement, the Collateral Agent shall have all of the rights and remedies of a secured party upon default then available to the Agent under the UCC, in addition to which the Collateral Agent shall have all and each of the following rights and remedies upon an Event of Default and Accelerationremedies: (a) To give notice to any bank at which any DDA or Blocked Collection Account is maintained and in which Proceeds of Collateral are deposited, to turn over such Proceeds directly to the Agent. (b) To give notice to any customs broker of any of the Borrower’s customs brokers Borrowers to follow the instructions of the Collateral Agent as provided in any written agreement or undertaking of such broker in favor of the Collateral Agent. (c) To collect the Receivables Collateral with or without the taking of possession of any of the Collateral. (d) To take possession of all or any portion of the Collateral. (e) To sell, lease, or otherwise dispose of any or all of the Collateral, in its then condition or following such preparation or processing as the Collateral Agent deems advisable and with or without the taking of possession of any of the Collateral. (f) To conduct one or more going out of business sales which include the sale or other disposition of the Collateral. (g) To apply the Receivables Collateral or the Proceeds of the Collateral towards (but not necessarily in complete satisfaction of) the Liabilities. (h) To exercise all or any of the rights, remedies, powers, privileges, and discretions under all or any of the Loan Documents.

Appears in 2 contracts

Samples: Loan and Security Agreement (Retail Ventures Inc), Loan and Security Agreement (DSW Inc.)

Rights of Enforcement. The Term Collateral Agent shall have all of the rights and remedies of a secured party upon default then available to the Agent under the UCC, in addition to which the Term Collateral Agent shall have all and each of the following rights and remedies upon an Event of Default and Accelerationremedies: (a) To give notice to any bank at which any DDA account or Blocked Account is maintained and in which Proceeds of Collateral are deposited, to turn over such Proceeds directly to the Term Collateral Agent. (b) To give notice to any of the Borrower’s Obligors’ customs brokers to follow the instructions of the Term Collateral Agent as provided in any written agreement or undertaking of such broker in favor of the AgentCustoms Brokers Agreement. (c) To collect the Receivables Collateral with or without the taking of possession of any of the Collateral. (d) To take possession of all or any portion of the Collateral. (e) To sell, lease, or otherwise dispose of any or all of the Collateral, in its then condition or following such preparation or processing as the Term Collateral Agent deems advisable and with or without the taking of possession of any of the Collateral. (f) To conduct one or more going out of business sales which include the sale or other disposition of the Collateral. (g) To apply the Receivables Collateral or the Proceeds of the Collateral towards (but not necessarily in complete satisfaction of) the Liabilities. (h) To exercise all or any of the rights, remedies, powers, privileges, and discretions under all or any of the Loan Documents.

Appears in 1 contract

Samples: Term Loan and Security Agreement (Mothers Work Inc)

Rights of Enforcement. The Collateral Agent shall have all of the rights and remedies of a secured party upon default then available to the Agent under the UCC, in addition to which the Collateral Agent shall have all and each of the following rights and remedies upon an Event of Default and Accelerationremedies: (a) To give notice to any bank at which any DDA or Blocked Account is maintained and in which Proceeds of Collateral are deposited, to turn over such Proceeds directly to the Collateral Agent. (b) To give notice to any customs broker, freight forwarder, consolidator or other carrier of any of the Borrower’s customs brokers Loan Parties to follow the instructions of the Collateral Agent as provided in any written agreement or undertaking of such broker in favor of the Collateral Agent. (c) To collect the Receivables Collateral with or without the taking of possession of any of the Collateral. (d) To take possession of all or any portion of the Collateral. (e) To sell, lease, or otherwise dispose of any or all of the Collateral, in its then condition or following such preparation or processing as the Collateral Agent deems advisable and with or without the taking of possession of any of the Collateral. (f) To Subject to the terms of Store Leases and provisions of applicable law, to conduct one or more going out of business sales which include the sale or other disposition of the Collateral. (g) To apply the Receivables Collateral or the Proceeds of the Collateral towards (but not necessarily in complete satisfaction of) the Liabilities. (h) To exercise all or any of the rights, remedies, powers, privileges, and discretions under all or any of the Loan Documents.

Appears in 1 contract

Samples: Term Loan and Security Agreement (Destination Xl Group, Inc.)

Rights of Enforcement. The During the existence of any Event of Default, the Administrative Agent shall have all of the rights and remedies of a secured party upon default then available to the Agent under the UCC, in addition to which the Administrative Agent shall have all and each of the following rights and remedies upon an Event of Default and Accelerationremedies: (a) To give notice to any bank at which any DDA or Blocked Account is maintained and in which Proceeds of Collateral are deposited, to turn over such Proceeds directly to the Administrative Agent. (b) To give notice to any customs broker of any of the Borrower’s customs brokers Borrowers to follow the instructions of the Administrative Agent as provided in any written agreement or undertaking of such broker in favor of the Administrative Agent. (c) To collect the Receivables Collateral with or without the taking of possession of any of the Collateral. (d) To take possession of all or any portion of the Collateral. (e) To sell, lease, or otherwise dispose of any or all of the Collateral, in its then condition or following such preparation or processing as the Administrative Agent deems advisable and with or without the taking of possession of any of the Collateral. (f) To conduct one or more going out of business sales which include the sale or other disposition of the Collateral, subject to the rights of lessors under any Leases and applicable law. (g) To apply the Receivables Collateral or the Proceeds of the Collateral towards (but not necessarily in complete satisfaction of) reduction of the Liabilities. (h) To exercise all or any of the rights, remedies, powers, privileges, and discretions under all or any of the Loan Documents.

Appears in 1 contract

Samples: Loan and Security Agreement (Officemax Inc /Oh/)

Rights of Enforcement. The Agent shall have all of the rights and remedies of a secured party upon default then available to the Agent under the UCC, in addition to which the Agent shall have all and each of the following rights and remedies upon an Event of Default and Acceleration: (a) To give notice to any bank at which any DDA or Blocked Account is maintained and in which Proceeds of Collateral are deposited, to turn over such Proceeds directly to the Agent. (b) To give notice to any of the Borrower’s 's customs brokers to follow the instructions of the Agent as provided in any written agreement or undertaking of such broker in favor of the Agent. (c) To collect the Receivables Collateral with or without the taking of possession of any of the Collateral. (d) To take possession of all or any portion of the Collateral. (e) To sell, lease, or otherwise dispose of any or all of the Collateral, in its then condition or following such preparation or processing as the Agent deems advisable and with or without the taking of possession of any of the Collateral. (f) To conduct one or more going out of business sales which include the sale or other disposition of the Collateral. (g) To apply the Receivables Collateral or the Proceeds of the Collateral towards (but not necessarily in complete satisfaction of) the Liabilities. (h) To exercise all or any of the rights, remedies, powers, privileges, and discretions under all or any of the Loan Documents.

Appears in 1 contract

Samples: Loan and Security Agreement (Hastings Entertainment Inc)

Rights of Enforcement. The Agent Subject to the terms of the Intercreditor Agreement, the Collateral Agents shall have all of the rights and remedies of a secured party upon default then available to the Agent under the UCC, in addition to which the Agent Collateral Agents shall have all and each of the following rights and remedies upon an Event of Default and Accelerationremedies: (a) To give notice to any bank at which any DDA or Blocked Collection Account is maintained and in which Proceeds of Collateral are deposited, to turn over such Proceeds directly to the Agent. (b) To give notice to any customs broker of any of the Borrower’s customs brokers Borrowers to follow the instructions of the Agent Collateral Agents as provided in any written agreement or undertaking of such broker in favor of the AgentCollateral Agents. (c) To collect the Receivables Collateral with or without the taking of possession of any of the Collateral. (d) To take possession of all or any portion of the Collateral. (e) To sell, lease, or otherwise dispose of any or all of the Collateral, in its then condition or following such preparation or processing as the Agent Collateral Agents deems advisable and with or without the taking of possession of any of the Collateral. (f) To conduct one or more going out of business sales which include the sale or other disposition of the Collateral. (g) To apply the Receivables Collateral or the Proceeds of the Collateral towards (but not necessarily in complete satisfaction of) the Liabilities. (h) To exercise all or any of the rights, remedies, powers, privileges, and discretions under all or any of the Loan Documents.

Appears in 1 contract

Samples: Loan and Security Agreement (Value City Department Stores Inc /Oh)

Rights of Enforcement. The Upon the occurrence and during the continuance of an Event of Default, the Agent shall have all of the rights and remedies of a secured party upon default then available to the Agent under the UCC, in addition to which the Agent shall have all and each of the following rights and remedies upon an Event of Default and Accelerationremedies: (a) To In addition to the rights to do so granted under other sections of this Agreement and other Loan Documents, to give notice to any bank at which any DDA or Blocked Account is maintained and in which Proceeds of Collateral are deposited, to turn over such Proceeds directly to the Agent. (b) To In addition to the rights to do so granted under other sections of this Agreement and other Loan Documents, to give notice to any customs broker of the Borrower’s customs brokers any Loan Party to follow the instructions of the Agent as provided in any written agreement or undertaking of such broker in favor of the Agent. (c) To collect the Receivables Collateral with or without the taking of possession of any of the Collateral. (d) To take possession of all or any portion of the Collateral. (e) To sell, lease, or otherwise dispose of any or all of the Collateral, in its then condition or following such preparation or processing as the Agent deems advisable and with or without the taking of possession of any of the Collateral. (f) To conduct one or more going out of business sales which include the sale or other disposition of the Collateral. (g) To apply the Receivables Collateral or the Proceeds of the Collateral towards (but not necessarily in complete satisfaction of) the Liabilities. (h) To exercise all or any of the rights, remedies, powers, privileges, and discretions under all or any of the Loan Documents.

Appears in 1 contract

Samples: Loan and Security Agreement (Odd Job Stores Inc)

Rights of Enforcement. The Agent shall have all of the rights and remedies of a secured party upon default then available under the UCC, as well as all other rights and remedies afforded to the Agent under the UCCapplicable state, in federal, and international laws. In addition to which which, the Agent shall have may, or, at the request of the Lender with Required Consent, shall, subject to the Intercreditor Agreement, take any or all and each of the following rights and remedies upon an Event of Default and Accelerationactions: (a) To give declare the unpaid principal amount of all outstanding Term Loans, all interest accrued and unpaid thereon, and all other amounts owing or payable hereunder or under any other Loan Document to be immediately due and payable, without presentment, demand, protest or other notice to of any bank at kind, all of which any DDA or Blocked Account is maintained and in which Proceeds of Collateral are deposited, to turn over such Proceeds directly to hereby expressly waived by the AgentBorrower. (b) To give notice to any of the Borrower’s customs brokers to follow the instructions of the Agent as provided in any written agreement or undertaking of such broker in favor of the Agent. (c) To collect the Receivables Collateral with or without the taking of possession of any of the Collateral. (d) To take possession of all or any portion of the Collateral. (ec) To sell, lease, or otherwise dispose of any or all of the Collateral, in its then condition or following such preparation or processing as the Agent deems advisable and with or without the taking of possession of any of the Collateral. (fd) To conduct one or more going out of business sales which include the sale or other disposition of the Collateral. (ge) To apply the Receivables Collateral or the Proceeds of the Collateral towards (but not necessarily in complete satisfaction of) the Liabilities. (hf) To exercise all or any of the rights, remedies, powers, privileges, and discretions under all or any of the Loan Documents.

Appears in 1 contract

Samples: Loan and Security Agreement

Rights of Enforcement. The Agent Upon the occurrence and during the continuance of any Event of Default, the Lender shall have all of the rights and remedies of a secured party upon default then available to the Agent under under, the UCC, in addition to which the Agent Lender shall have all and each of the following rights and remedies upon an Event of Default and Accelerationremedies: (a) To give notice to any bank at which any DDA or Blocked Account is maintained and in which Proceeds of Collateral are deposited, to turn over such Proceeds directly to the AgentLender. (b) To give notice to any customs broker of any of the Borrower’s customs brokers Borrowers to follow the instructions of the Agent Lender as provided in any written agreement or undertaking of such broker in favor of the AgentLender. (c) To collect the Receivables Collateral with or without the taking of possession of any of the Collateral. (d) To Without causing a breach of the peace, to take possession of all or any portion of the Collateral. (e) To sell, lease, or otherwise dispose of any or all of the Collateral, in its then condition or following such preparation or processing as the Agent Lender deems advisable and with or without the taking of possession of any of the Collateral. (f) To conduct one or more going out of business sales which include the sale or other disposition of the Collateral. (g) To apply the Receivables Collateral or the Proceeds of the Collateral towards (but not necessarily in complete satisfaction of) the Liabilities. (h) To exercise all or any of the rights, remedies, powers, privileges, and discretions under all or any of the Loan Documents.

Appears in 1 contract

Samples: Loan and Security Agreement (Alloy Inc)