Common use of Secured Party's Remedies Clause in Contracts

Secured Party's Remedies. Upon the occurrence of an Event of Default: (a) Secured Party may declare the Obligations in whole or part immediately due and may enforce payment and performance of the same and exercise any rights under the Texas UCC, rights and remedies of Secured Party under this Agreement, or otherwise. (b) Secured Party may, at Secured Party's option and at the expense of Debtor, either in Secured Party's own right or in the name of Debtor and in the same manner and to the same extent that Debtor might reasonably so act if this Agreement had not been made: (i) do all things requisite, convenient, or necessary to enforce the performance and observance of all rights, remedies and privileges of Debtor arising from the Collateral, or any part thereof, including without limitation compromising, waiving, excusing, or in any manner releasing or discharging any obligation of any party to or arising from the Collateral; (ii) take possession of the books, papers, chattel paper, documents of title, and accounts of Debtor, wherever located, relating to the Collateral; (iii) sue or otherwise collect and rxxxive money attributable to the Collateral; and (iv) exercise any other lawfully available powers or remedies, and do all other things which Secured Party deems requisite, convenient or necessary or which the Secured Party deems proper to protect the Security Interest. (c) Secured Party may foreclose this Agreement in the manner now or hereafter provided or permitted by law and may upon such reasonable notification prior thereto as may be required by applicable law (Debtor hereby agreeing that ten days' notice is commercially reasonable), sell, assign, transfer, or otherwise dispose of the Collateral at public or private sale, in whole or in part, and Secured Party may, in its own name or as Debtor's attorney-in-fact effectively assign and transfer the Collateral, or any part thereof, absolutely, and execute and deliver all necessary assignments, conveyances, bills of sale, and other instruments with power to substitute one or more persons or corporations with like power. Any such foreclosure sale, assignment, transfer, or other disposition shall, to the extent permitted by law, be a perpetual bar, both at law and in equity, against Debtor and all persons and corporations lawfully claiming by or through or under Debtor. Any such foreclosure sale may be adjourned from time to time. Upon any sale, Secured Party may bid for and purchase the Collateral, or any part thereof, and upon compliance with the terms of sale may hold, retain, possess and dispose of the Collateral, in its absolute right without further accountability. Secured Party shall have the right to be credited on the amount of its bid a corresponding amount of the Obligations as of the date of such sale. (d) If, in the opinion of Secured Party, there is any question that a public sale or distribution of any Collateral will violate any state or federal securities law, Secured Party (i) may offer and sell securities privately to purchasers who will agree to take them for investment purposes and not with a view to distribution and who will agree to imposition of restrictive legends on the certificates representing the security, or (ii) may sell such securities in any type of offering which complies with, or is exempt from the registration requirements of, the Securities Act of 1933 and any applicable state securities laws, and no sale so made in good faith by Secured Party shall be deemed to be not "commercially reasonable" because so made. (e) Not in limitation of any other provision of this Agreement, Secured Party shall have all rights and remedies of a secured party under the Texas UCC.

Secured Party's Remedies. Upon the occurrence of Debtor agrees that when an Event of DefaultDefault has ------------------------ occurred and is continuing, Secured Party shall have the rights, options, duties and remedies of a Secured Party and Debtor shall have the rights and duties of a Debtor under the Uniform Commerical Code in effect in each jurisdiction where the Collateral or any part thereof is located and, without limiting the foregoing, Secured Party may exercise one or more or all, and in any order, of the remedies hereinafter set forth: (a) Secured Party may By notice in wiring to Debtor, declare the Obligations in whole or part entire unpaid principal balance due under any, each and all Schedule(s) to be immediately due and may enforce payment payable; and performance of the same thereupon all such unpaid balance(s), together with all accrued and exercise any rights under the Texas UCCunpaid interest thereon, rights shall be immediately due and remedies of Secured Party under this Agreement, or otherwise.payable; (b) Personally, or by agents or attorneys, take immediate possession of the Collateral or any portion thereof and for the purpose pursue the same wherever it may be found and enter any of the premises of Debtor with or without notice, demand, process of law or legal procedure, and search for, take possession of, remove, keep and store the same, or use, operate, or lease the same until sold and otherwise exercise any and all of the rights and poers of Debtor in respect thereof; (c) Either with or without taking possession and without instituting any legal proceedings whatsoever (having first given notice of such sale by mail to debtor once at least 10 calendar days prior to the date of such sale, and any other notice of such sale which may be required by law, if said notice is sufficient, sell and dispose of the collateral or any part thereof at public auction(s) to the highest bidder, or at a private sale(s) in one lot as an entirely or in several lots, and either for cash or for credit and on such terms as Secured Party maymay determine, at Secured Party's option and at any place (whether or not it is the expense location of Debtor, either in Secured Party's own right or in the name of Debtor and in the same manner and to the same extent that Debtor might reasonably so act if this Agreement had not been made: (i) do all things requisite, convenient, or necessary to enforce the performance and observance of all rights, remedies and privileges of Debtor arising from the Collateral, Collateral or any part thereof, including without limitation compromising, waiving, excusing, or in any manner releasing or discharging any obligation of any party to or arising from the Collateral; (ii) take possession of the books, papers, chattel paper, documents of title, and accounts of Debtor, wherever located, relating to the Collateral; (iii) sue or otherwise collect and rxxxive money attributable to the Collateral; and (iv) exercise any other lawfully available powers or remedies, and do all other things which Secured Party deems requisite, convenient or necessary or which the Secured Party deems proper to protect the Security Interest. (c) Secured Party may foreclose this Agreement designated in the manner now or hereafter provided or permitted by law and may upon such reasonable notification prior thereto as may be required by applicable law (Debtor hereby agreeing that ten days' notice is commercially reasonable), sell, assign, transfer, or otherwise dispose of the Collateral at public or private sale, in whole or in part, and Secured Party may, in its own name or as Debtor's attorney-in-fact effectively assign and transfer the Collateral, or any part thereof, absolutely, and execute and deliver all necessary assignments, conveyances, bills of sale, and other instruments with power to substitute one or more persons or corporations with like powerabove referred to. Any such foreclosure sale, assignment, transfer, sale or other disposition shall, to the extent permitted by law, be a perpetual bar, both at law and in equity, against Debtor and all persons and corporations lawfully claiming by or through or under Debtor. Any such foreclosure sale sales may be adjourned from time to time. Upon any saletime by announcement of the time and place appointed for such sale or sales, or fur such adjourned sales or sales without further notice, and Secured Party may bid and become the purchaser at any such sale; (d) Secured Party may proceed to protect and enforce this Agreement and any Schedule(s) by suit or suits or proceedings in equity, at law or in bankruptcy, and whether for and purchase the specific performance of any covenant or agreement herein contained, or execution or aid of any power herein granted, or for foreclosure hereunder, or for the appointment of a receiver or receivers for the Collateral, or any part party thereof, and upon compliance with or for the terms of sale may hold, retain, possess and dispose of the Collateral, in its absolute right without further accountability. Secured Party shall have the right to be credited on the amount of its bid a corresponding amount of the Obligations as of the date of such sale. (d) If, in the opinion of Secured Party, there is any question that a public sale or distribution enforcement of any Collateral will violate any state proper, legal or federal securities equitable remedy available under appliable law, Secured Party (i) may offer and sell securities privately to purchasers who will agree to take them for investment purposes and not with a view to distribution and who will agree to imposition of restrictive legends on the certificates representing the security, or (ii) may sell such securities in any type of offering which complies with, or is exempt from the registration requirements of, the Securities Act of 1933 and any applicable state securities laws, and no sale so made in good faith by Secured Party shall be deemed to be not "commercially reasonable" because so made. (e) Not in limitation of any other provision of this Agreement, Secured Party shall have may require Debtor to assemble the Collateral and return it to Secured Party at a place to be designated by Secured Party which is reasonably convenient to both parties. (f) Debtor agrees to pay the Secured Party all rights and remedies of a secured party under expense or retaking, holding, preparing for sale, or selling the Texas UCCCollateral in addition to attorneys' fees as set forth above.

Secured Party's Remedies. Upon the occurrence of Debtor agrees that when an Event of DefaultDefault has occurred and is continuing, Secured Party shall have the rights, options, duties and remedies of a Secured Party and Debtor shall have the rights and duties of a Debtor under the Uniform Commercial Code in effect in each jurisdiction where the Collateral or any part thereof is located and, without limiting the foregoing, Secured Party may exercise one or more or all, and in any order, of the remedies hereinafter set forth: (a) Secured Party may By notice in writing to Debtor, declare the Obligations in whole or part entire unpaid principal balance due under any, each, and all Schedule(s) to be immediately due and may enforce payment payable; and performance of the same thereupon all such unpaid balance(s), together with all accrued and exercise any rights under the Texas UCCunpaid interest thereon, rights shall be immediately due and remedies of Secured Party under this Agreement, or otherwise.payable; (b) Personally, or by agents or attorneys, take immediate possession of the Collateral or any portion thereof and for that purpose pursue the same wherever it may be found and enter any of the premises of Debtor with or without notice, demand, process of law or legal procedure, and search for, take possession of, remove, keep and store the same, or use, operate, or lease the same until sold and otherwise exercise any and all of the rights and powers of Debtor in respect thereof; (c) Either with or without taking possession and without instituting any legal proceedings whatsoever (having first given notice of such sale by mail to Debtor once at least 10 calendar days prior to the date of such sale, and any other notice of such sale which may be required by law, if said notice is sufficient), sell and dispose of the Collateral or any part thereof at public auction(s) to the highest bidder, or at a private sale(s) in one lot as an entirety or in several lots, and either for cash or for credit and on such terms as Secured Party maymay determine, at Secured Party's option and at the expense of Debtor, either in Secured Party's own right any place (whether or not it is in the name location of Debtor and in the same manner and to the same extent that Debtor might reasonably so act if this Agreement had not been made: (i) do all things requisite, convenient, or necessary to enforce the performance and observance of all rights, remedies and privileges of Debtor arising from the Collateral, Collateral or any part thereof, including without limitation compromising, waiving, excusing, or in any manner releasing or discharging any obligation of any party to or arising from the Collateral; (ii) take possession of the books, papers, chattel paper, documents of title, and accounts of Debtor, wherever located, relating to the Collateral; (iii) sue or otherwise collect and rxxxive money attributable to the Collateral; and (iv) exercise any other lawfully available powers or remedies, and do all other things which Secured Party deems requisite, convenient or necessary or which the Secured Party deems proper to protect the Security Interest. (c) Secured Party may foreclose this Agreement designated in the manner now or hereafter provided or permitted by law and may upon such reasonable notification prior thereto as may be required by applicable law (Debtor hereby agreeing that ten days' notice is commercially reasonable), sell, assign, transfer, or otherwise dispose of the Collateral at public or private sale, in whole or in part, and Secured Party may, in its own name or as Debtor's attorney-in-fact effectively assign and transfer the Collateral, or any part thereof, absolutely, and execute and deliver all necessary assignments, conveyances, bills of sale, and other instruments with power to substitute one or more persons or corporations with like powerabove referred to. Any such foreclosure sale, assignment, transfer, sale or other disposition shall, to the extent permitted by law, be a perpetual bar, both at law and in equity, against Debtor and all persons and corporations lawfully claiming by or through or under Debtor. Any such foreclosure sale sales may be adjourned from time to time. Upon any saletime by announcement of the time and place appointed for such sale or sales, or for such adjourned sales or sales without further notice, and Secured Party may bid and become the purchaser at any such sale; (d) Secured Party may proceed to protect and enforce this Agreement and any Schedule(s) by suit or suits or proceedings in equity, at law or in bankruptcy, and whether for and purchase the specific performance of any covenant or agreement herein contained, or execution or aid of any power herein granted, or for foreclosure hereunder, or for the appointment of a receiver or receivers for the Collateral, or any part party thereof, and upon compliance with or for the terms of sale may hold, retain, possess and dispose of the Collateral, in its absolute right without further accountability. Secured Party shall have the right to be credited on the amount of its bid a corresponding amount of the Obligations as of the date of such sale. (d) If, in the opinion of Secured Party, there is any question that a public sale or distribution enforcement of any Collateral will violate any state proper, legal or federal securities equitable remedy available under applicable law, Secured Party (i) may offer and sell securities privately to purchasers who will agree to take them for investment purposes and not with a view to distribution and who will agree to imposition of restrictive legends on the certificates representing the security, or (ii) may sell such securities in any type of offering which complies with, or is exempt from the registration requirements of, the Securities Act of 1933 and any applicable state securities laws, and no sale so made in good faith by Secured Party shall be deemed to be not "commercially reasonable" because so made. (e) Not in limitation of any other provision of this Agreement, Secured Party shall have may require Debtor to assemble the Collateral and return it to Secured Party at a place to be designated by Secured Party which is reasonably convenient to both parties. (f) Debtor agrees to pay the Secured Party all rights and remedies of a secured party under expenses or retaking, holding, preparing for sale, or selling the Texas UCCCollateral in addition to attorneys' fees as set forth above.

Secured Party's Remedies. Upon the occurrence of Debtor agrees that when an Event of DefaultDefault has occurred and is continuing, Secured Party shall have the rights, options, duties and remedies of a Secured Party and Debtor shall have the rights and duties of a Debtor under the Uniform Commercial Code in effect in each jurisdiction where the Collateral or any part thereof is located and, without limiting the foregoing, Secured Party may exercise one or more or all, and in any order, of the remedies hereinafter set forth: (a) Secured Party may By notice in writing to Debtor, declare the Obligations in whole or part entire unpaid principal balance due under any, each and all Schedule(s) to be immediately due and may enforce payment payable; and performance of the same thereupon all such unpaid balance(s), together with all accrued and exercise any rights under the Texas UCCunpaid interest thereon, rights shall be immediately due and remedies of Secured Party under this Agreement, or otherwise.payable; (b) Personally, or by agents or attorneys, take immediate possession of the Collateral or any portion thereof and for that purpose pursue the same wherever it may be found and enter any of the premises of Debtor with or without notice, demand, process of law or legal procedure, and search for, take possession of, remove, keep and store the same, or use, operate, or lease the same until sold and otherwise exercise any and all of the rights and powers of Debtor in respect thereof, (c) Either with or without taking possession and without instituting any legal proceedings whatsoever (having first given notice of such sale by mail to Debtor once at least 10 calendar days prior to the date of such sale, and any other notice of such sale which may be required by law, if said notice is sufficient), sell and dispose of the Collateral or any part thereof at public auction(s) to the highest bidder, or at a private sale(s) in one lot as an entirety or in several lots, and either for cash or for credit and on such terms as Secured Party maymay determine, at Secured Party's option and at any place (whether or not it is the expense location of Debtor, either in Secured Party's own right or in the name of Debtor and in the same manner and to the same extent that Debtor might reasonably so act if this Agreement had not been made: (i) do all things requisite, convenient, or necessary to enforce the performance and observance of all rights, remedies and privileges of Debtor arising from the Collateral, Collateral or any part thereof, including without limitation compromising, waiving, excusing, or in any manner releasing or discharging any obligation of any party to or arising from the Collateral; (ii) take possession of the books, papers, chattel paper, documents of title, and accounts of Debtor, wherever located, relating to the Collateral; (iii) sue or otherwise collect and rxxxive money attributable to the Collateral; and (iv) exercise any other lawfully available powers or remedies, and do all other things which Secured Party deems requisite, convenient or necessary or which the Secured Party deems proper to protect the Security Interest. (c) Secured Party may foreclose this Agreement designated in the manner now or hereafter provided or permitted by law and may upon such reasonable notification prior thereto as may be required by applicable law (Debtor hereby agreeing that ten days' notice is commercially reasonable), sell, assign, transfer, or otherwise dispose of the Collateral at public or private sale, in whole or in part, and Secured Party may, in its own name or as Debtor's attorney-in-fact effectively assign and transfer the Collateral, or any part thereof, absolutely, and execute and deliver all necessary assignments, conveyances, bills of sale, and other instruments with power to substitute one or more persons or corporations with like powerabove referred to. Any such foreclosure sale, assignment, transfer, sale or other disposition shall, to the extent permitted by law, be a perpetual bar, both at law and in equity, against Debtor and all persons and corporations lawfully claiming by or through or under Debtor. Any such foreclosure sale sales may be adjourned from time to time. Upon any saletime by announcement of the time and place appointed for such sale or sales, or for such adjourned sales or sales without further notice, and Secured Party may bid and become the purchaser at any such sale; (d) Secured Party may proceed to protect and enforce this Agreement and any Schedule(s) by suit or suits or proceedings in equity, at law or in bankruptcy, and whether for and purchase the specific performance of any covenant or agreement herein contained, or execution or aid of any power herein granted, or for foreclosure hereunder, or for the appointment of a receiver or receivers for the Collateral, or any part party thereof, and upon compliance with or for the terms of sale may hold, retain, possess and dispose of the Collateral, in its absolute right without further accountability. Secured Party shall have the right to be credited on the amount of its bid a corresponding amount of the Obligations as of the date of such sale. (d) If, in the opinion of Secured Party, there is any question that a public sale or distribution enforcement of any Collateral will violate any state proper, legal or federal securities equitable remedy available under applicable law, Secured Party (i) may offer and sell securities privately to purchasers who will agree to take them for investment purposes and not with a view to distribution and who will agree to imposition of restrictive legends on the certificates representing the security, or (ii) may sell such securities in any type of offering which complies with, or is exempt from the registration requirements of, the Securities Act of 1933 and any applicable state securities laws, and no sale so made in good faith by Secured Party shall be deemed to be not "commercially reasonable" because so made. (e) Not in limitation of any other provision of this Agreement, Secured Party shall have may require Debtor to assemble the Collateral and return it to Secured Party at a place to be designated by Secured Party which is reasonably convenient to both parties. (f) Debtor agrees to pay the Secured Party all rights and remedies of a secured party under expenses or retaking, holding, preparing for sale, or selling the Texas UCCCollateral in addition to attorneys' fees as set forth above.

Secured Party's Remedies. Upon the occurrence of Debtor agrees that when an Event of DefaultDefault has occurred and is continuing, Secured Party shall have the rights, opinions, duties and remedies of a Secured Party and Debtor shall have the rights and duties of a Debtor under the Uniform Commercial Code in effect in each jurisdiction where the Collateral or any part thereof is located and, without limiting the foregoing, Secured Party may exercise one or more or all, and in any order, of the remedies hereinafter set forth: (a) Secured Party may By notice in writing to Debtor, declare the Obligations in whole or part entire unpaid principal balance due under ANY, EACH, AND ALL Schedule(s) to be immediately due and may enforce payment payable; and performance of the same thereupon all such unpaid balance(s), together with all accrued and exercise any rights under the Texas UCCunpaid interest thereon, rights shall be immediately due and remedies of Secured Party under this Agreement, or otherwise.payable; (b) Personally, or by agents or attorneys, take immediate possession of the Collateral or any portion thereof and for that purpose pursue the same wherever it may be found and enter any of the premises of Debtor with or without notice, demand, process of law or legal procedure, and search for, take possession of, remove, keep and store the same, or use, operate, or lease the same until sold and otherwise exercise any and all of the rights and powers of Debtor in respect thereof; (c) Either with or without taking possession and without instituting any legal proceedings whatsoever (having first given notice of such sale by mail to Debtor once at least 10 calendar days prior to the date of such sale, and any other notice of such sale which may be required by law, if said notice is sufficient), sell and dispose of the Collateral or any part thereof at public auction(s) to the highest bidder, or at a private sale(s) in one lot as an entirety or in several lots, and either for cash or for credit and on such terms as Secured Party maymay determine, at Secured Party's option and at any place (whether or not it is the expense location of Debtor, either in Secured Party's own right or in the name of Debtor and in the same manner and to the same extent that Debtor might reasonably so act if this Agreement had not been made: (i) do all things requisite, convenient, or necessary to enforce the performance and observance of all rights, remedies and privileges of Debtor arising from the Collateral, Collateral or any part thereof, including without limitation compromising, waiving, excusing, or in any manner releasing or discharging any obligation of any party to or arising from the Collateral; (ii) take possession of the books, papers, chattel paper, documents of title, and accounts of Debtor, wherever located, relating to the Collateral; (iii) sue or otherwise collect and rxxxive money attributable to the Collateral; and (iv) exercise any other lawfully available powers or remedies, and do all other things which Secured Party deems requisite, convenient or necessary or which the Secured Party deems proper to protect the Security Interest. (c) Secured Party may foreclose this Agreement designated in the manner now or hereafter provided or permitted by law and may upon such reasonable notification prior thereto as may be required by applicable law (Debtor hereby agreeing that ten days' notice is commercially reasonable), sell, assign, transfer, or otherwise dispose of the Collateral at public or private sale, in whole or in part, and Secured Party may, in its own name or as Debtor's attorney-in-fact effectively assign and transfer the Collateral, or any part thereof, absolutely, and execute and deliver all necessary assignments, conveyances, bills of sale, and other instruments with power to substitute one or more persons or corporations with like powerabove referred to. Any such foreclosure sale, assignment, transfer, sale or other disposition shall, to the extent permitted by law, be a perpetual bar, both at law and in equity, against Debtor and all persons and corporations lawfully claiming by or through or under Debtor. Any such foreclosure sale sales may be adjourned from time to time. Upon any saletime by announcement of the time and place appointed for such sale or sales, or for such adjourned sales or sales without further notice, and Secured Party may bid and become the purchaser at any such sale; (d) Secured Party may proceed to protect and enforce this Agreement and any Schedule(s) by suit or suits or proceedings in equity, at law or in bankruptcy, and whether for and purchase the specific performance of any covenant or agreement herein contained, or execution or aid of any power herein granted, or for foreclosure hereunder, or for the appointment of a receiver or receivers for the Collateral, or any part party thereof, and upon compliance with or for the terms of sale may hold, retain, possess and dispose of the Collateral, in its absolute right without further accountability. Secured Party shall have the right to be credited on the amount of its bid a corresponding amount of the Obligations as of the date of such sale. (d) If, in the opinion of Secured Party, there is any question that a public sale or distribution enforcement of any Collateral will violate any state proper, legal or federal securities equitable remedy available under applicable law, Secured Party (i) may offer and sell securities privately to purchasers who will agree to take them for investment purposes and not with a view to distribution and who will agree to imposition of restrictive legends on the certificates representing the security, or (ii) may sell such securities in any type of offering which complies with, or is exempt from the registration requirements of, the Securities Act of 1933 and any applicable state securities laws, and no sale so made in good faith by Secured Party shall be deemed to be not "commercially reasonable" because so made. (e) Not in limitation of any other provision of this Agreement, Secured Party shall have may require Debtor to assemble the Collateral and return it to Secured Party at at place to be designated by Secured Party which is reasonably convenient to both parties. (f) Debtor agrees to pay the Secured Party all rights and remedies of a secured party under expenses or retaking, holding, preparing for sale, or selling the Texas UCCCollateral in addition to attorneys' fees as set forth above.