Common use of Rights of Enforcement Clause in Contracts

Rights of Enforcement. The Lender shall have all of the rights and remedies of a secured party upon default under the UCC, in addition to which the Lender shall have all and each of the following rights and remedies: (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 Lender. (b) To give notice to any of the Obligors’ customs brokers to follow the instructions of the Lender as provided in any Customs 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 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, as provided herein. (h) To contact any of the Obligor’s Landlords in order to confirm the continued compliance by the Obligors with the terms and conditions of the Lease(s) between the Obligors and such Landlord and to discuss issues concerning the Obligors’ occupancy under such Lease(s) as the Lender may reasonably determine. (i) 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 (Charlotte Russe Holding Inc)

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Rights of Enforcement. The 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 under the UCC, in addition to which the Lender shall have all and each of the following rights and remedies: (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 Lender. (b) To give notice to any customs broker of any of the Obligors’ customs brokers Borrowers to follow the instructions of the Lender as provided in any Customs Brokers Agreementwritten agreement or undertaking of such broker in favor of the Lender. (c) To collect the Receivables Collateral with or without the taking of possession of any of the Collateral, subject to the other provisions of this Article 11: and the UCC. (d) To Without causing a breach of the peace, to take possession of all or any portion of the Collateral, subject to the other provisions of this Article 11: and the UCC. (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 Lender deems advisable and with or without the taking of possession of any of the Collateral, subject to the other provisions of this Article 11: and the UCC. (f) To conduct one or more going out of business sales which include the sale or other disposition of the Collateral, subject to the other provisions of this Article 11: and the UCC. (g) To apply the Receivables Collateral or the Proceeds of the Collateral towards (but not necessarily in complete satisfaction of) the Liabilities, as provided herein. (h) To contact any of the Obligor’s Landlords in order to confirm the continued compliance by the Obligors with the terms and conditions of the Lease(s) between the Obligors and such Landlord and to discuss issues concerning the Obligors’ occupancy under such Lease(s) as the Lender may reasonably determine. (i) 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 (dELiAs, Inc.)

Rights of Enforcement. The Lender Agent shall have all of the rights and remedies of a secured party upon default under the UCCUCC and the PPSA, in addition to which the Lender Agent shall have all and each of the following rights and remedies: (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 Lender. (b) To give notice to any of the Obligors’ customs brokers to follow the instructions of the Lender as provided in any Customs Brokers Agreement. (c) To collect the Receivables Collateral with or without the taking of possession of any of the Collateral. (db) 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 Lender 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, as provided herein. (h) To contact any of the Obligor’s Landlords in order to confirm the continued compliance by the Obligors with the terms and conditions of the Lease(s) between the Obligors and such Landlord and to discuss issues concerning the Obligors’ occupancy under such Lease(s) as the Lender may reasonably determine. (if) To exercise all or any of the rights, remedies, powers, privileges, and discretions under all or any of the Loan Documents. (g) Applicable to the CAN Borrower Only: To appoint by instrument in writing, a receiver (which term shall include a receiver and manager or agent) of the CAN Borrower and of all or any part of its Collateral and remove or replace such receiver from time to time or to institute proceedings in any court of competent jurisdiction for the appointment of a receiver. Any such receiver so appointed by the Agent, with respect to responsibility for its acts, shall be deemed, to the extent permitted by applicable law, the agent of the CAN Borrower and not of the Agent. Where the Agent is referred to in this Article 11, the reference includes, where the context so permits, any receiver so appointed and the officers, employees, servants, or agents of such receiver.

Appears in 1 contract

Samples: Loan and Security Agreement (Sunglass Hut International Inc)

Rights of Enforcement. The Lender 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 under the UCC, in addition to which the Lender Administrative Agent shall have all and each of the following rights and remedies: (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 LenderAdministrative Agent. (b) To give notice to any customs broker of any of the Obligors’ customs brokers Borrowers to follow the instructions of the Lender Administrative Agent as provided in any Customs Brokers Agreementwritten 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, or any indicia 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 Lender 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, as provided herein. (h) To contact any of the Obligor’s Landlords in order to confirm the continued compliance by the Obligors with the terms and conditions of the Lease(s) between the Obligors and such Landlord and to discuss issues concerning the Obligors’ occupancy under such Lease(s) as the Lender may reasonably determine. (i) To exercise all or any of the rights, remedies, powers, privileges, and discretions under all or any of the Loan Documents.. In connection with the taking of any enforcement action by the Administrative Agent during the continuance of an Event of Default, to the extent that applicable law imposes duties on the Administrative Agent to exercise remedies in a commercially reasonable manner, each Borrower acknowledges and agrees that it is not commercially unreasonable for the Administrative Agent (a) to fail to incur expenses reasonably deemed significant by the Administrative Agent to prepare Collateral for disposition or otherwise to fail to complete raw material or work in process into finished goods or other finished products for disposition, (b) to fail to obtain third party consents for access to Collateral to be disposed of, or to obtain or, if not required by other law, to fail to obtain governmental or third party consents for the collection or disposition of Collateral to be collected or disposed of, (c) to fail to exercise collection remedies against account debtors or other persons obligated on Collateral or to fail to remove liens or Encumbrances on or any adverse claims against Collateral, (d) to exercise collection remedies against account debtors and other persons obligated on Collateral directly or through the use of collection agencies and other collection specialists, (e) to advertise dispositions of Collateral through publications or media of general circulation, whether or not the Collateral is of a

Appears in 1 contract

Samples: Loan and Security Agreement (Claires Stores Inc)

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Rights of Enforcement. The Lender Agent shall have all of the rights and remedies of a secured party upon default under the UCCCode, in addition to which the Lender Agent shall have all and each of the following rights and remedies: (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 Lender. (b) To give notice to any of the Obligors’ customs brokers to follow the instructions of the Lender as provided in any Customs Brokers Agreement. (c) To collect the Receivables Collateral with or without the taking of possession of any of the Collateral. (b) To receive any and all income, distributions, proceeds or other property received or paid in respect of the Pledged Interests. (c) To register in the name of the Agent or its nominee (if not already so registered) all of the Pledged Interests, and Lender or its nominee may thereafter exercise (i) all voting and all equity and other rights pertaining to the Pledged Interests and (ii) any and all rights of conversion, exchange, and subscription and any other rights, privileges or options pertaining to such Pledged Interests as if it were the absolute owner thereof (including, without limitation, the right to exchange at its discretion any and all of the Pledged Interests upon the merger, consolidation, reorganization, recapitalization or other fundamental change in the organizational structure of Borrower or upon the exercise by Borrower or the Agent of any right, privilege or option pertaining to such Pledged Interests, and in connection therewith, the right to deposit and deliver any and all of the Pledged Interests with any committee, depositary, transfer agent, registrar or other designated agency upon such terms and conditions as it may determine), all without liability except to account for property actually received by it, but the Agent shall not have any duty to exercise any such right, privilege or option and shall not be responsible for any failure to do so or delay in so doing. (d) To apply the Receivables Collateral or the proceeds of the Collateral towards (but not necessarily in complete satisfaction of) the Obligations in accordance with the provisions of this Agreement. (e) To take possession of all or any portion of the Collateral. Each Borrower hereby acknowledges that the Obligations arose out of a commercial transaction, and agrees that if an Event of Default shall have occurred and be continuing, the Agent shall have the right to an immediate writ of possession without notice of a hearing. (ef) To exercise all voting, consensual and other powers of ownership pertaining to the Collateral as if the Agent were the sole and absolute owner thereof (and Borrower agrees to take all such action as may be reasonably appropriate to give effect to such right). (g) 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 Lender 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. (gh) To apply to the Receivables Collateral or the Proceeds Obligations any balances and deposits in any Deposit Accounts of the Collateral towards (but not necessarily in complete satisfaction of) Borrower which the LiabilitiesAgent, as provided herein. (h) To contact any of the Obligor’s Landlords a secured party, holds or is in order to confirm the continued compliance by the Obligors with the terms and conditions of the Lease(s) between the Obligors and such Landlord and to discuss issues concerning the Obligors’ occupancy under such Lease(s) as the Lender may reasonably determinecontrol of. (i) To appoint a receiver for the properties and assets of each Borrower, and each Borrower hereby consents to such rights and such appointment and hereby waives any objection such Borrower may have thereto or the right to have a bond or other security posted by the Agent. (j) To exercise all or any of the rights, remedies, powers, privileges, and discretions under all or any of the Loan Documents. (k) The powers conferred on the Agent on behalf of the Secured Parties, hereunder are solely to protect Secured Parties’ interests in the Collateral and shall not impose any duty upon the Agent to exercise any such powers. The Agent shall be accountable only for amounts that they actually receive as a result of the exercise of such powers, and neither they nor any of their officers, directors, or employees shall be responsible to Borrower for any act or failure to act hereunder, except for its or their gross negligence or willful misconduct.

Appears in 1 contract

Samples: Loan and Security Agreement (Five9, Inc.)

Rights of Enforcement. The Lender Collateral Agent shall have all of the rights and remedies of a secured party upon default under that Part of Article 9 of the UCC entitled "Default" (at the execution of this Agreement, Part 5 of Article 9 of the UCC and in the event of the adoption and effectiveness of the 1998 Revisions to Article 9 of the UCC, Part 6 thereof), in addition to which the Lender Collateral Agent shall have all and each of the following rights and remedies: (a) To give notice to any bank at which any DDA or Blocked Account is maintained and in which Proceeds proceeds of Collateral collateral are deposited, deposited to turn over such Proceeds proceeds directly to the LenderCollateral Agent. (b) To give notice to any of the Obligors’ customs brokers broker to follow the instructions of the Lender Collateral Agent, as provided in any Customs Brokers Agreementwritten 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 Lender 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 proceeds of the Collateral towards (but not necessarily in complete satisfaction of) the Liabilities, as provided herein. (h) To contact any of the Obligor’s Landlords in order to confirm the continued compliance by the Obligors with the terms and conditions of the Lease(s) between the Obligors and such Landlord and to discuss issues concerning the Obligors’ occupancy under such Lease(s) as the Lender may reasonably determine. (i) 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 (Baker J Inc)

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