Rights of Secured Creditor. Upon an Event of Default, Bank, in its sole and absolute discretion, may: (a) exercise any one or more of the rights and remedies accruing to a secured party under the Uniform Commercial Code of the relevant state or states and any other applicable law upon default by a debtor; (b) enter, with or without process of law and without breach of the peace, any premises where the Collateral or the books and records of Borrower related thereto is or may be located, and without charge or liability to Bank therefor seize and remove the Collateral (and copies of Borrower's books and records in any way relating to the Collateral) from said premises and/or remain upon said premises and use the same (together with said books and records) for the purpose of collecting, preparing and disposing of the Collateral, and Borrower hereby grants Bank a security interest in said books and records for the purpose above stated; and (c) sell or otherwise dispose of the Collateral at public or private sale for cash or credit, provided, however, that Borrower shall be credited with the net proceeds of such sale only when such proceeds are actually received by Bank pursuant to Paragraph 13.1 hereof.
Rights of Secured Creditor. The Agent and Lenders shall have, in addition to the rights and remedies given to them under this Agreement, the Notes and the other Loan Documents, all of the rights and remedies of a secured party under the Uniform Commercial Code as enacted in any jurisdiction in which any of the Collateral may be located and all rights and remedies allowed by all applicable Laws, all of which rights and remedies shall be cumulative and non-exclusive, to the extent permitted by said Laws. In addition to all such rights and remedies, the sale, lease or other disposition of the Collateral, or any part thereof, by Agent after an Event of Default may be for cash, credit or any combination thereof, and Agent may purchase all or any part of the Collateral at public or, if permitted by Law, private sale, and in lieu of actual payment of such purchase price, may set-off the amount of such purchase price against the Obligations then owing. Any sale of the Collateral may be adjourned from time to time with or without notice. Agent may, in its sole discretion, cause any Collateral to remain on a Borrower's premises, at the Borrower's expense, pending sale or other disposition of such Collateral. Agent shall have the right to conduct such sales on a Borrower's premises, at Borrowers' expense, or elsewhere on such occasion or occasions as Agent may see fit.
Rights of Secured Creditor. 51 12.5 Assembly of Collateral; Injunctive Relief.................51 12.6
Rights of Secured Creditor. If any Event of Default shall have occurred and be continuing, the Lender shall have all the rights and remedies, with respect to all Collateral Securities, of a secured party under Articles 8 and 9 of the Uniform Commercial Code of the State of New York in effect at that time and as otherwise provided by law, and, in addition, may, at its sole option, exercise, or cause the Custodian to exercise on its behalf, any one or more of the remedies described in Sections 7.3 and 7.4.
Rights of Secured Creditor. Upon an Event of Default, Lender, in its sole and absolute discretion, may:
Rights of Secured Creditor. The Agent and the Lenders shall have, in addition to the rights and remedies given to them under this Agreement, the Revolving Notes and the other Loan Documents, all of the rights and remedies of a secured party under the UCC as enacted in any applicable jurisdiction and all rights and remedies allowed by all applicable Laws, all of which rights and remedies shall be cumulative and non-exclusive, to the extent permitted by said Laws. Without limiting the generality of the foregoing, the Agent and the Lenders may, without any requirement of notice, setoff any and all amounts owing by the Borrower or any Guarantor to it against any deposit account or any other collateral and property of the Borrower or any Guarantor which may now or hereafter be in the possession, custody, safekeeping or control of any Lender or the Agent or any of their affiliates, or in transit to any of them, and such right of setoff shall be deemed to have been exercised immediately upon such stated or accelerated maturity as aforesaid even though such setoff is not noted on the records of such Lender or the Agent until a later time. ANY AND ALL RIGHTS TO REQUIRE ANY LENDER OR THE AGENT TO EXERCISE ANY OF THEIR RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING THEIR RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS, COLLATERAL OR OTHER PROPERTY OF THE BORROWER OR ANY GUARANTOR, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED. In addition to all such rights and remedies, the sale, lease or other disposition of the Collateral, or any part thereof, by the Agent after an Event of Default may be for cash, credit or any combination thereof, and the Agent or any Lender may purchase all or any part of the Collateral at public or, if permitted by Law, private sale, and in lieu of actual payment of such purchase price, may set-off the amount of such purchase price against the Obligations then owing. Any sale of the Collateral may be adjourned from time to time with or without notice. The Agent may, in its sole discretion, cause any Collateral to remain on the Borrower's premises, at the Borrower's expense, pending sale or other disposition of such Collateral. The Agent shall have the right to conduct such sales on the Borrower's premises, at the Borrower's expense, or elsewhere on such occasion or occasions as the Agent may see fit.
Rights of Secured Creditor. Upon an Event of Default, Bank, in its -------------------------- sole and absolute discretion, may: (a) exercise any one or more of the rights and remedies accruing to a secured party under the Uniform Commercial Code of the relevant state or states and any other applicable law upon default by a debtor; and (b) exercise any one or more of the rights and remedies available to it under the Mortgage, Assignment of Rents and Pledge Agreement.
Rights of Secured Creditor. Upon an Event of Default, Bank, in its -------------------------- sole and absolute discretion, may: (a) exercise any one or more of the rights and remedies accruing to a secured party under the Uniform Commercial Code of the relevant state or states and any other applicable law upon default by a debtor; and (b) exercise any one or more of the rights and remedies available to it under the Galewood and Kinzie Station Mortgages, the Galewood and Kinzie Station Assignment of Rents and the Pledge Agreement.
Rights of Secured Creditor. 6 7.2 Calculation of Unpaid Remedy Amount . . . . . . . . . . . . . . . 6 7.3
Rights of Secured Creditor. Upon the occurrence of an Event of Default the Banks shall have, in addition to the rights and remedies given to them under this Agreement, the Revolving Notes and the Loan Documents all of the rights and remedies of secured parties under the Uniform Commercial Code as enacted in any jurisdiction in which any Collateral may be located, and all rights and remedies allowed by all applicable Laws, all of which rights and remedies shall be cumulative and non-exclusive, to the extent permitted by said Laws. All risk of loss, damage or diminution of value with respect to the Collateral shall be borne by the Borrowers at all times and the Banks shall have no responsibility, liability or obligation to the Borrowers therefor.
