Common use of RIGHTS OF LENDER ON EVENT OF DEFAULT Clause in Contracts

RIGHTS OF LENDER ON EVENT OF DEFAULT. If there is an Event of Default under this Agreement, Lender shall be entitled to exercise one or more of the following remedies without notice or demand (except as required by law); (a) to declare the Obligations immediately due and payable in full; such acceleration shall be automatic and immediate if the Event of Default is a filing under the Bankruptcy Code; (b) to collect the outstanding Obligations with or without resorting to judicial process; (c) to change Owner's mailing address, open Owner's mail, and retain any instruments or other remittances constituting the Collateral contained therein; (d) to take possession of any Collateral in any manner permitted by law; (e) to apply for and obtain, without notice and upon ex parte application, the appointment of a receiver for the Collateral without regard to Owner's financial condition or solvency, the adequacy of the Collateral to secure the payment or performance of the obligations, or the existence of any waste to the Collateral; (f) to require Owner to deliver and make available to Lender any Collateral at a place reasonably convenient to Owner and Lender; (g) to sell, lease or otherwise dispose of any Collateral and collect any deficiency balance with or without resorting to legal process; (h) to set-off Owner's obligations against any amounts due to Owner including, but not limited to, monies, instruments, and deposit accounts maintained with Lender; and (i) to exercise all other rights available to Lender under any other written agreement or applicable law. Lender's rights are cumulatxxx xxd may be exercised together, separately, and in any order. Unless the Collateral is perishable, threatens to decline speedily in value or is of a type customarily sold on a recognized market, Lender will provide five days notice of the time and place of any sale or intended disposition as required under the Uniform Commercial Code. If the Collateral consists of securities, Lender shall be entitled to transfer the securities into the name of Lender or its designee and to vote the securities. Lender shall be authorized to notify the issuer of the securities to remit any related dividends, interest, and securities resulting from stock splits, reorganizations, and capitalizations directly to Lender or its designee. In the event that Lender institutes an action to recover any Collateral or seeks recovery of any Collateral by way of a prejudgment remedy in an action against Owner, Owner waives the posting of any bond which might otherwise be required. Upon default, Owner shall segregate all proceeds of Collateral and hold such proceeds in trust for Lender. Lender's remedies under thix xxxxgraph are in addition to those under any other written agreement or applicable law.

RIGHTS OF LENDER ON EVENT OF DEFAULT. If there is an Event of Default under this Agreement, Lender shall be entitled to exercise one or more of the following remedies without notice or demand (except as required by law);): (a) to declare the Obligations immediately due and payable in full; such acceleration shall be automatic and immediate if the Event of Default is a filing under the Bankruptcy Code; (b) to collect the outstanding Obligations with or without resorting to judicial process; (c) to change Owner's mailing address, open Owner's mail, and retain any instruments or other remittances constituting the Collateral contained therein; (d) to take possession of any Collateral in any manner permitted by law; (e) to apply for and obtain, without notice and upon ex parte application, the appointment of a receiver for the Collateral without regard to Owner's financial condition or solvency, the adequacy of the Collateral to secure the payment or performance of the obligations, or the existence of any waste to the Collateral; (f) to require Owner to deliver and make available to Lender any Collateral at a place reasonably convenient to Owner and Lender; (g) to sell, lease or otherwise dispose of any Collateral and collect any deficiency balance with or without resorting to legal process; (h) to set-off Owner's obligations against any amounts due to Owner including, but not limited to, monies, instruments, and deposit accounts maintained with Lender; and (i) to exercise all other rights available to Lender under any other written agreement or applicable law. Lender's rights are cumulatxxx xxd cumulative and may be exercised together, separately, and in any order. Unless the Collateral is perishable, threatens to decline speedily in value or is of a type customarily sold on a recognized market, Lender will provide five days notice of the time and place of any sale or intended disposition as required under the Uniform Commercial Code. If the Collateral consists of securities, Lender shall be entitled to transfer the securities into the name of Lender or its designee and to vote the securities. Lender shall be authorized to notify the issuer of the securities to remit any related dividends, interest, and securities resulting from stock splits, reorganizations, and capitalizations directly to Lender or its designee. In the event that Lender institutes an action to recover any Collateral or seeks recovery of any Collateral by way of a prejudgment remedy in an action against Owner, Owner waives the posting of any bond which might otherwise be required. Upon default, Owner shall segregate all proceeds of Collateral and hold such proceeds in trust for Lender. Lender's remedies under thix xxxxgraph this paragraph are in addition to those under any other written agreement or applicable law.

RIGHTS OF LENDER ON EVENT OF DEFAULT. If there is Upon the occurrence of an Event of Default under this AgreementDeed of Trust, Lender shall be entitled to exercise one or more of the following remedies without notice or demand (except as required by law);): (a) to declare the Obligations immediately due and payable in full; , such acceleration shall be automatic and immediate if the Event of Default is a filing under the Bankruptcy Code; ; (b) to collect the outstanding Obligations with or without resorting to judicial process; ; (c) to change Owner's mailing address, open Owner's mail, and retain any instruments or other remittances constituting the Collateral contained therein; (d) to take possession of any Collateral in any manner permitted by law; (e) to apply for and obtain, without notice and upon ex parte application, the appointment of a receiver for the Collateral without regard to Owner's financial condition or solvency, the adequacy of the Collateral to secure the payment or performance of the obligations, or the existence of any waste to the Collateral; (f) to require Owner Grantor to deliver and make available to Lender any Collateral personal property or Chattels constituting the Property at a place reasonably convenient to Owner Grantor and Lender; ; (d) to enter upon and take possession of the Property without applying for or obtaining the appointment of a receiver; (e) to employ a managing agent of the Property and let the same, either in Trustee's own name, in the name of Xxxxxx or in the name of Grantor, and receive the rents, incomes, issues and profits of the Property and apply the same, after payment of all necessary charges and expenses, on account of the Obligations; (f) to pay any sums in any form or manner deemed expedient by Xxxxxx to protect the security of this Deed of Trust or to cure any default other than payment of interest or principal on the Obligations; (g) to sell, lease foreclose this Deed of Trust judicially or otherwise dispose of any Collateral and collect any deficiency balance nonjudicially in accordance with or without resorting to legal process; applicable state law; (h) to set-off OwnerGrantor's obligations Obligations against any amounts due to Owner owed Grantor by Lender including, but not limited to, monies, instruments, and deposit accounts maintained with Lender or any currently existing or future affiliate of Lender; and (i) to make application to a court of competent jurisdiction for appointment of a receiver, without notice to Grantor and without regard to the adequacy of the property for repayment; and (j) to exercise all other rights available to Lender under any other written agreement or applicable law. LenderXxxxxx's rights are cumulatxxx xxd cumulative and may be exercised together, separately, and in any order. Unless To the Collateral extent permitted by law, Grantor waives any requirement of marshalling of assets. At Lender's request, Trustee may sell the Property conveyed, or a sufficiency thereof, to satisfy the obligations at public auctions to the highest bidder for cash. "Cash" may include certified checks, bank checks, wire transfers, or other methods of payment deemed by Trustee in its discretion to be reasonable. Trustee may act through agents in performing its duties herein, and such appointment does not need to be in writing or recorded. Grantor waives Section 111 of the Mississippi Constitution and Section 88-1-55 of the Mississippi Code of 1972 (as the same may be amended from time to time) as far as they restrict the Trustee from offering at sale more than 160 acres at a time, and Trustee may offer the property conveyed herein as a whole, regardless of how described. If the Property is perishablelocated in two or more counties, threatens or two judicial districts of the same county, Trustee will have full power to decline speedily select in value which county or judicial district the sale of the property is to be made, newspaper advertisement published and notice of sale posted. Trustee, in its discretion, may determine any details of sale not specified herein. Lender shall have the same right to purchase the Property at the foreclosure sale as would a type customarily sold purchaser who is not a party to this Deed of Trust, and moreover may bid at the sale for credit on the Obligations. All payments received by Trustee will be applied first to the Trustee's reasonable costs of sale, and then as provided in Paragraph 22 herein. Trustee may adjourn any sale to a recognized marketlater date without readvertising, Lender will provide five days by giving notice of the time and place of any such continued sale or intended disposition as required under at the Uniform Commercial Code. If the Collateral consists of securities, Lender time when and where Trustee shall be entitled to transfer the securities into the name of Lender or its designee and to vote the securities. Lender shall be authorized to notify the issuer of the securities to remit any related dividends, interest, and securities resulting from stock splits, reorganizations, and capitalizations directly to Lender or its designee. In the event that Lender institutes an action to recover any Collateral or seeks recovery of any Collateral by way of a prejudgment remedy in an action against Owner, Owner waives the posting of any bond which might otherwise be required. Upon default, Owner shall segregate all proceeds of Collateral and hold make such proceeds in trust for Lender. Lender's remedies under thix xxxxgraph are in addition to those under any other written agreement or applicable lawadjournment.

RIGHTS OF LENDER ON EVENT OF DEFAULT. If there is Upon the occurrence of an Event of Default under this Agreement, Lender shall be entitled to exercise one or more of the following remedies without notice or demand (except as required by law)demand: 8.1 To exercise any of the rights and remedies described in this Agreement or the other Loan Documents; (a) to 8.2 To declare the Obligations principal amount plus accrued interest under this Note and all other present and future obligations of Borrower immediately due and payable in full; such acceleration ; 8.3 To terminate the agreements of the Lender to extend credit of any kind hereunder, whereupon the commitment and obligation of the Lender to make disbursements or make loans hereunder shall terminate; 8.4 To enter into possession of the Premises and take all actions necessary in its judgement to complete construction of the Improvements in accordance with the Plans and Specifications. Lender shall also have the right to make changes in the Plans and Specifications, work or materials as it may deem appropriate and to enter into, modify or terminate any contractual arrangements, subject to Lender's right at any time to discontinue work without liability. Such action shall be automatic taken at the sole risk, cost and immediate if expense of Borrower. Lender shall not assume liability to Borrower or any other person or entity for completing the Event Improvements or for the manner of Default is a filing under quality of construction of the Bankruptcy Code; (b) Improvements. Borrower irrevocably appoints Lender as its attorney-in-fact, with full power of substitution, to collect complete the outstanding Obligations with or without resorting Improvements, at the option of Lender, in Borrower's name. Lender shall have the right to judicial process; (c) to change Owner's mailing address, open Owner's maildisburse any portion of the Loan not previously disbursed, and retain to use any instruments other funds of Borrower, including any funds held in escrow accounts, to the extent necessary or desirable to complete or finish construction of the Improvements and to pay, compromise or settle all existing or future bills and claims that are or may be or become liens against the Premises, or may be necessary or desirable for the completion of the Improvements or the clearance of title of the Premises. All sums expended by Lender in completing construction shall be considered to have been disbursed to the Borrower, and Borrower and all Guarantors shall be liable thereof. Such sums shall be secured by the Security Instrument, Security Agreement and any other remittances constituting documents securing the Collateral contained therein; (d) to take possession Loan. In the event such sums exceed the principal amount of any Collateral in any manner permitted by law; (e) to apply for and obtain, without notice and upon ex parte applicationthe Promissory Note, the appointment of a receiver for the Collateral without regard to Owner's financial condition or solvency, the adequacy amount of the Collateral excess funds shall be considered to secure be an additional Loan to Borrower bearing interest at the payment or performance of rate provided in the obligationsPromissory Note and shall be secured by the Security Instrument, or Security Agreement and any other documents securing the existence of any waste to the Collateral; (f) to require Owner to deliver and make available to Lender any Collateral at a place reasonably convenient to Owner and Lender; (g) to sell, lease or otherwise dispose of any Collateral and collect any deficiency balance with or without resorting to legal process; (h) to set-off Owner's obligations against any amounts due to Owner including, but not limited to, monies, instruments, and deposit accounts maintained with LenderLoan; and (i) to 8.5 To exercise all other rights available to Lender under any other written agreement or applicable lawlaw or in equity. Lender's rights are cumulatxxx xxd cumulative and may be exercised together, separately, and in any order. Unless the Collateral is perishableLender may, threatens to decline speedily in value or is of at its option, appoint a type customarily sold receiver without bond, without first bringing suit on a recognized marketBorrower's obligations and without meeting any statutory conditions regarding receivers, Lender will provide five days notice of the time and place of any sale or it being intended disposition as required under the Uniform Commercial Code. If the Collateral consists of securities, that Lender shall be entitled have this contractual right to transfer the securities into the name of Lender or its designee and to vote the securities. Lender shall be authorized to notify the issuer of the securities to remit any related dividends, interest, and securities resulting from stock splits, reorganizations, and capitalizations directly to Lender or its designee. In the event that Lender institutes an action to recover any Collateral or seeks recovery of any Collateral by way of appoint a prejudgment remedy in an action against Owner, Owner waives the posting of any bond which might otherwise be required. Upon default, Owner shall segregate all proceeds of Collateral and hold such proceeds in trust for Lender. Lender's remedies under thix xxxxgraph are in addition to those under any other written agreement or applicable lawreceiver.

RIGHTS OF LENDER ON EVENT OF DEFAULT. If there is an Event of Default under this Agreement, Lender shall be entitled to exercise one or more of the following remedies without notice or demand (except as required by law);): (a) to declare the Obligations immediately due and payable in full; such acceleration shall be automatic and immediate if the Event of Default is a filing under the Bankruptcy Code; (b) to collect the outstanding Obligations with or without resorting to judicial process; (c) to change Owner's mailing address, open Owner's mail, and retain any instruments or other remittances constituting the Collateral contained therein; (d) to take possession of any Collateral in any manner permitted by law; (e) to apply for and obtain, without notice and upon ex parte application, the appointment of a receiver for the Collateral without regard to Owner's financial condition or solvency, the adequacy of the Collateral to secure the payment or performance of the obligations, or the existence of any waste to the Collateral; (f) to require Owner to deliver and make available to Lender any Collateral at a place reasonably convenient to Owner and Lender; (g) to sell, lease or otherwise dispose of any Collateral and collect any deficiency balance with or without resorting to legal process; (h) to set-off Owner's obligations against any amounts due to Owner including, but not limited to, monies, instruments, and deposit accounts maintained with Lender; and (i) to exercise all other rights available to Lender under any other written agreement or applicable law. Lender's rights are cumulatxxx xxd cumulative and may be exercised together, separately, and in any order. Unless the Collateral is perishable, threatens to decline speedily in value or is of a type customarily sold on a recognized market, Lender will provide five days notice of the time and place of any sale or intended disposition as required under the Uniform Commercial Code, presently or as hereafter amended or replaced. Lender has no obligation to clean up or otherwise prepare the Collateral for sale. Lender may comply with any applicable state or federal law requirements in connection with a disposition of the Collateral and compliance will not be considered adversely to affect the commercial reasonableness of any sale of the Collateral. If the Collateral consists of securities, Lender shall be entitled to transfer the securities into the name of Lender or its designee and to vote the securities. Lender shall be authorized to notify the issuer of the securities to remit any related dividends, interest, and securities resulting from stock splits, reorganizations, and capitalizations directly to Lender or its designee. In the event that Lender institutes an action to recover any Collateral or seeks recovery of any Collateral by way of a prejudgment remedy in an action against Owner, Owner waives the posting of any bond which might otherwise be required. Upon default, Owner shall segregate all proceeds of Collateral and hold such proceeds in trust for Lender. Lender's remedies under thix xxxxgraph this paragraph are in addition to those under any other written agreement or applicable law.