Common use of Sale of Stock Collateral Clause in Contracts

Sale of Stock Collateral. In the event of any disposition of the Stock Collateral as provided in clause (c) of Section 7.1, the Company shall give to the Pledgor at least five business days' prior written notice of the time and place of any public sale of the Stock Collateral or of the time after which any private sale or any other intended disposition is to be made. The Pledgor hereby acknowledges that five business days prior written notice of such sale or sales shall be reasonable notice. The Company may enforce its rights hereafter without any other notice and without compliance with any other condition precedent now or hereunder imposed by statute, rule of law or otherwise (all of which are hereby expressly waived by the Pledgor, to the fullest extent permitted by law). The Company may buy any part or all of the Stock Collateral at any public sale and if any part or all of the Stock Collateral is of a type customarily sold in a recognized market or is of the type which is the subject of widely-distributed standard price quotations, the Company may buy at private sale and may make payments thereof by any means. The Company may apply the cash proceeds actually received from any sale or other disposition to the reasonable expenses of retaking, holding, preparing for sale, selling and the like, to reasonable attorneys' fees, travel and all other expenses which may be incurred by the Company in attempting to collect the Obligations or to enforce this Agreement or in the prosecution or defense of any action or proceeding related to the subject matter of this Agreement, and then to the Obligations in such order or preference as the Company may determine after proper allowance for Obligations not then due. Only after such applications, and after payment by the Company of any amount required by Section 12A:9-504(1)(c) of the Uniform Commercial Code of the State of New Jersey, need the Company account to the Pledgor for any surplus.

Sale of Stock Collateral. In the event of any disposition of the Stock Collateral as provided in clause (c) of Section 7.1, the Company Agent shall give to the Pledgor Company at least five business days' ten (10) Business Days prior written notice of the time and place of any public sale of the Stock Collateral or of the time after which any private sale or any other intended disposition is to be made. The Pledgor Company hereby acknowledges that five business days ten (10) Business Days prior written notice of such sale or sales shall be reasonable notice. The Company Agent may enforce its rights hereafter hereunder without any other notice and without compliance with any other condition precedent now or hereunder imposed by statute, rule of law or otherwise (all of which are hereby expressly waived by the PledgorCompany, to the fullest extent permitted by law). The Company Agent may buy any part or all of the Stock Collateral at any public sale and if any part or all of the Stock Collateral is of a type customarily sold in a recognized market or is of the type which is the subject of widely-distributed standard price quotations, the Company Agent may buy at private sale and may make payments thereof by any means. The Company Agent may apply the cash proceeds actually received from any sale or other disposition to the reasonable expenses of retaking, holding, preparing for sale, selling and the like, to reasonable attorneys' fees, travel and all other expenses which may be incurred by the Company Agent in attempting to collect the Obligations or to enforce this Agreement or in the prosecution or defense of any action or proceeding related to the subject matter of this Agreement, and then to the Obligations in the order set forth in such order or preference as the Company Agent may determine after proper allowance for Obligations not then due. Only after such applications, and after payment by the Company Agent of any amount required by Section 12A:99-504(1)(c) of the Uniform Commercial Code as in effect in the Commonwealth of the State of New JerseyMassachusetts, need the Company Agent account to the Pledgor Company for any surplus.

Sale of Stock Collateral. In the event of any disposition of the Stock Collateral as provided in clause (c) of Section 7.1ss.7.1, the Company Agent shall give to the Pledgor Company at least five business days' Business Days prior written notice of the time and place of any public sale of the Stock Collateral or of the time after which any private sale or any other intended disposition is to be made. The Pledgor Company hereby acknowledges that five business days Business Days prior written notice of such sale or sales shall be reasonable notice. The Company Agent may enforce its rights hereafter hereunder without any other notice and without compliance with any other condition precedent now or hereunder imposed by statute, rule of law or otherwise (all of which are hereby expressly waived by the PledgorCompany, to the fullest extent permitted by law). The Company Agent may buy any part or all of the Stock Collateral at any public sale and if any part or all of the Stock Collateral is of a type customarily sold in a recognized market or is of the type which is the subject of widely-distributed standard price quotations, the Company Agent may buy at private sale and may make payments thereof by any means. The Company Agent may apply the cash proceeds actually received from any sale or other disposition to the reasonable expenses of retaking, holding, preparing for sale, selling and the like, to reasonable attorneys' fees, travel and all other expenses which may be incurred by the Company Agent in attempting to collect the Obligations or to enforce this Agreement or in the prosecution or defense of any action or proceeding related to the subject matter of this Agreement, and then to the Obligations in such order or preference as the Company Agent may determine after proper allowance for Obligations not then due. Only after such applications, and after payment by the Company Agent of any amount required by Section 12A:9ss.9-504(1)(c) of the Uniform Commercial Code of the State of New JerseyMassachusetts UCC, need the Company Agent account to the Pledgor Company for any surplus. To the extent that any of the Obligations are to be paid or performed by a person other than the Company, the Company waives and agrees not to assert any rights or privileges which it may have under ss.9-112 of the Massachusetts UCC.

Sale of Stock Collateral. In the event of any disposition of the Stock Collateral as provided in clause (c) of Section 7.1Section7.1, the Company shall give to the Pledgor at least five business days' prior written notice of the time and place of any public sale of the Stock Collateral or of the time after which any private sale or any other intended disposition is to be made. The Pledgor hereby acknowledges that five business days prior written notice of such sale or sales shall be reasonable notice. The Company may enforce its rights hereafter without any other notice and without compliance with any other condition precedent now or hereunder imposed by statute, rule of law or otherwise (all of which are hereby expressly waived by the Pledgor, to the fullest extent permitted by law). The Company may buy any part or all of the Stock Collateral at any public sale and if any part or all of the Stock Collateral is of a type customarily sold in a recognized market or is of the type which is the subject of widely-distributed standard price quotations, the Company may buy at private sale and may make payments thereof by any means. The Company may apply the cash proceeds actually received from any sale or other disposition to the reasonable expenses of retaking, holding, preparing for sale, selling and the like, to reasonable attorneys' fees, travel and all other expenses which may be incurred by the Company in attempting to collect the Obligations or to enforce this Agreement or in the prosecution or defense of any action or proceeding related to the subject matter of this Agreement, and then to the Obligations in such order or preference as the Company may determine after proper allowance for Obligations not then due. Only after such applications, and after payment by the Company of any amount required by Section 12A:9Section9-504(1)(c) of the Uniform Commercial Code of the State Commonwealth of New JerseyMassachusetts, need the Company account to the Pledgor for any surplus.