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 Agent shall give to the Company at least 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 Company hereby acknowledges that ten (10) Business Days prior written notice of such sale or sales shall be reasonable notice. The Agent may enforce its rights 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 Company, to the fullest extent permitted by law). The 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 Agent may buy at private sale and may make payments thereof by any means. The 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 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 Agent may determine after proper allowance for Obligations not then due. Only after such applications, and after payment by the Agent of any amount required by Section 9-504(1)(c) of the Uniform Commercial Code as in effect in the Commonwealth of Massachusetts, need the Agent account to the 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 7.1Section7.1, the Agent Company shall give to the Company Pledgor at least ten (10) Business Days 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 Company Pledgor hereby acknowledges that ten (10) Business Days five business days prior written notice of such sale or sales shall be reasonable notice. The Agent Company may enforce its rights hereunder 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 CompanyPledgor, to the fullest extent permitted by law). The Agent 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 Agent Company may buy at private sale and may make payments thereof by any means. The Agent 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 Agent 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 the order set forth in such order or preference as the Agent Company may determine after proper allowance for Obligations not then due. Only after such applications, and after payment by the Agent Company of any amount required by Section 9Section9-504(1)(c) of the Uniform Commercial Code as in effect in of the Commonwealth of Massachusetts, need the Agent Company account to the Company 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, ss. 7.1 the Agent shall give to the Company at least 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 Company hereby acknowledges that ten (10) Business Days prior written notice of such sale or sales shall be reasonable notice. The Agent may enforce its rights 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 Company, to the fullest extent permitted by law). The Agent or any Bank may buy any part or all of the Stock Collateral for cash 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 Agent may buy at private sale and may make payments thereof by any means. The 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 reasonable expenses which may be incurred by the 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 pursuant to ss.15.4 of the order set forth in such order or preference as the Agent may determine after proper allowance for Obligations not then dueCredit Agreement. Only after such applications, and after payment by the Agent of any amount required by Section 9ss.9-504(1)(c) of the Uniform Commercial Code as in effect in the Commonwealth of MassachusettsMassachusetts UCC, need the Agent account to the 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 7.1, ss. 7.1 the Agent shall give to the Company at least ten (10) 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 Company hereby acknowledges that ten (10) five Business Days prior written notice of such sale or sales shall be reasonable notice. The Agent may enforce its rights 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 Company, to the fullest extent permitted by law). The 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 Agent may buy at private sale and may make payments thereof by any means. The 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 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 Agent may determine after proper allowance for Obligations not then due. Only after such applications, and after payment by the Agent of any amount required by Section 9ss.9-504(1)(c) of the Uniform Commercial Code as in effect in the Commonwealth of MassachusettsMassachusetts UCC, need the Agent account to the 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 7.1, the Agent Company shall give to the Company Pledgor at least ten (10) Business Days 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 Company Pledgor hereby acknowledges that ten (10) Business Days five business days prior written notice of such sale or sales shall be reasonable notice. The Agent Company may enforce its rights hereunder 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 CompanyPledgor, to the fullest extent permitted by law). The Agent 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 Agent Company may buy at private sale and may make payments thereof by any means. The Agent 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 Agent 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 the order set forth in such order or preference as the Agent Company may determine after proper allowance for Obligations not then due. Only after such applications, and after payment by the Agent Company of any amount required by Section 912A:9-504(1)(c) of the Uniform Commercial Code as in effect in of the Commonwealth State of MassachusettsNew Jersey, need the Agent Company account to the Company Pledgor for any surplus.