Common use of Special Louisiana Provisions Clause in Contracts

Special Louisiana Provisions. Insofar as the validity or perfection of the security interest hereunder or the remedies hereunder are governed by the laws of the State of Louisiana, Borrower agrees as follows: (i) For purposes of Louisiana executory process, Borrower acknowledges the Obligations secured hereby, whether now existing or to arise hereafter, and confesses judgment thereon if not paid when due. Upon the occurrence of an Event of Default and at any time thereafter so long as the same shall be continuing, and in addition to all of the rights and remedies granted the Lender hereunder, it shall be lawful for and Borrower hereby authorizes Lender without making a demand or putting Borrower in default, a putting in default being expressly waived, to cause all and singular the Collateral to be seized and sold after due process of law, Borrower waiving the benefit of any and all laws or parts of laws relative to appraisement of property seized and sold under executory process or other legal process, and consenting that the Collateral be sold without appraisement, either in its entirety or in lots or parcels, as Lender may determine, to the highest bidder for cash or on such other terms as the plaintiff in such proceedings may direct. In addition, Lender shall have all of the-rights and remedies available to it under this Agreement or under the Louisiana Commercial Laws (Louisiana Revised Statutes, Title 10), then in effect (La. R.S. 10:9-101 et seq.). (ii) Borrower hereby waives: (a) the benefit of appraisement provided for in Articles 2332, 2336, 2723 and 2724 of the Louisiana Code of Civil Procedure and all other laws conferring the same; (b) the demand and three (3) days notice of demand as provided in Articles 2639 and 2721 of the Louisiana Code of Civil Procedure;

Special Louisiana Provisions. Insofar as The following provisions of this section 4.8 govern Secured Party's rights and remedies upon an Event of Default to the validity or perfection extent Louisiana law is applicable and are in addition to all other rights and remedies of the security interest hereunder or the remedies hereunder are governed by the laws of the State of Louisiana, Borrower agrees as follows: (i) For purposes of Louisiana executory process, Borrower acknowledges the Obligations secured hereby, whether now existing or to arise hereafter, and confesses judgment thereon if not paid when dueSecured Party under this Agreement. Upon the occurrence of an Event of Default and at any time thereafter so long as the same Default, Secured Party shall be continuing, and in addition to have all of the rights and remedies granted of a secured party under Chapter 9 of the Lender hereunderLouisiana Commercial Laws, Title 10 of the Louisiana Revised Statutes of 1950, as the same may be amended. Debtor hereby acknowledges the indebtedness owed under the Obligations and, for the purposes of Louisiana executory process procedures, confesses judgment in favor of Secured Party for the full amount of the Obligations, consenting that judgment be rendered and signed whether during the court's term or during vacation, in favor of Secured Party for the full amount of the Obligations in principal, interest, and attorneys' fees, together with all charges and expenses whatsoever, as mentioned in this Agreement or in any document, instrument, agreement, or other writing evidencing the Obligations. Upon the occurrence of an Event of Default, Debtor declares that it shall be lawful for for, and Borrower it does hereby authorizes Lender without making a demand or putting Borrower in defaultauthorize, a putting in default being expressly waived, Secured Party to cause all and singular or any part of the Collateral to be seized and sold after due sold, under executory process or under writ of lawfieri facias issued in execution of an ordinary judgment obtained on the Obligations, Borrower waiving without appraisement to the highest bidder, for cash or on such terms as are acceptable to Secured Party. Debtor waives all and every appraisement of the Collateral and waives and renounces the benefit of any appraisement and the benefit of all laws or parts of laws relative to the appraisement of property the Collateral seized and sold under executory process or other legal process. Debtor agrees to waive, and consenting that the Collateral be sold without appraisement, either in its entirety or in lots or parcels, as Lender may determine, to the highest bidder for cash or on such other terms as the plaintiff in such proceedings may direct. In addition, Lender shall have all of the-rights and remedies available to it under this Agreement or under the Louisiana Commercial Laws (Louisiana Revised Statutes, Title 10), then in effect (La. R.S. 10:9-101 et seq.). (ii) Borrower does hereby waivesspecifically waive: (ai) the benefit of appraisement provided for in Articles 2332, 2336, 2723 2723, and 2724 of the 2724, Louisiana Code of Civil Procedure Procedure, and all other laws conferring the samesuch benefits; (bii) the demand and three (3) days notice of demand as provided in delay accorded by Articles 2639 and 2721 2721, Louisiana Code of Civil Procedure; (iii) the notice of seizure required by Articles 2293 and 2721, Louisiana Code of Civil Procedure; (iv) the three (3) days delay provided by Articles 2331 and 2722, Louisiana Code of Civil Procedure; (v) the benefit of the other provisions of Articles 2331,2722, and 2723, Louisiana Code of Civil Procedure; (vi) the benefit of the provisions of any other articles of the Louisiana Code of Civil Procedure;Procedure not specifically mentioned above; and (vii) all rights of division and discussion with respect to all Obligations. Pursuant to the authority contained in La. R.S. 9:5136 through 9:5140.1 (La. Act. No. 315 of 1976), Debtor and Secured Party do hereby expressly designate, at this time, Secured Party or its designee to be keeper or receiver for the benefit of Secured Party or any assignee of Secured Party, at its option, to take effect immediately upon any seizure of the Collateral under writ of executory process or under writ of sequestration or fieri facias as an incident to an action brought by Secured Party. The fees of the keeper or receiver shall be secured by the security interest in the Collateral granted in this Agreement.

Special Louisiana Provisions. Insofar as the validity or perfection of the security interest hereunder or the remedies hereunder are governed by the laws of the State of Louisiana, Borrower agrees as follows: (i) For purposes of Louisiana executory process, Borrower acknowledges the Obligations secured hereby, whether now existing or to arise hereafter, and confesses judgment thereon if not paid when due. Upon the occurrence of an Event of Default and at any time thereafter so long as the same shall be continuing, and in addition to all of the rights and remedies granted the Lender hereunder, it shall be lawful for and Borrower hereby authorizes Lender without making a demand or putting Borrower in default, a putting in default being expressly waived, to cause all and singular the Collateral to be seized and sold after due process of law, Borrower waiving the benefit of any and all laws or parts of laws relative to appraisement of property seized and sold under executory process or other legal process, and consenting that the Collateral be sold without appraisement, either in its entirety or in lots or parcels, as Lender may determine, to the highest bidder for cash or on such other terms as the plaintiff in such proceedings may direct. In addition, Lender shall have all of the-rights and remedies available to it under this Agreement or under the Louisiana Commercial Laws (Louisiana Revised Statutes, Title 10), then in effect (La. R.S. 10:9-10:9- 101 et seq.). (ii) Borrower hereby waives: (a) the benefit of appraisement provided for in Articles 2332, 2336, 2723 and 2724 of the Louisiana Code of Civil Procedure and all other laws conferring the same; (b) the demand and three (3) days notice of demand as provided in Articles 2639 and 2721 of the Louisiana Code of Civil Procedure; (c) the notice of seizure provided by Articles 2293 and 2721 of the Louisiana Code of Civil Procedure; and (d) the three (3) day delay provided for in Articles 2331 and 2722 of the Louisiana Code of Civil Procedure. (iii) Borrower expressly authorizes and agrees that Lender shall have the right to appoint a keeper of the Collateral pursuant to the terms and provision of La. R.S. 9:5136.

Special Louisiana Provisions. Insofar as the validity or perfection of the security interest in any of the Collateral hereunder or any of the remedies hereunder are governed by the laws of the State of Louisiana, Borrower the Company agrees as follows: (ia) For purposes of Louisiana executory process, Borrower the Company acknowledges the Obligations secured hereby, whether now existing or to arise hereafter, hereafter and confesses confess judgment thereon if not paid when duethereon. Upon the occurrence of an Event of Default and at any time thereafter so long as the same shall be continuing, and in addition to all of the other rights and remedies granted the Lender hereunderCollateral Agent under this Agreement, it shall be lawful for and Borrower the Company hereby authorizes Lender the Collateral Agent without making a demand or putting Borrower the Company in default, a putting in default being expressly waived, to cause all and singular or any part of the Collateral to be seized and sold after due process of law, Borrower whether under executory process or under writ of fieri facias issued in execution of an ordinary judgment obtained on the Obligations, the Company waiving the benefit of any and all laws or parts of laws relative to appraisement of property seized and sold under executory process or other legal process, and consenting that the Collateral be sold without appraisement, either in its entirety or in lots or parcels, as Lender the Collateral Agent may determine, to the highest bidder for cash or on such other terms as the plaintiff in such proceedings may direct. In addition, Lender the Collateral Agent shall have all of the-the rights and remedies available to it under this Agreement or and under Chapter 9 of the Louisiana Commercial Laws (Louisiana Revised Statutes, Title 10)Laws, then in effect (La. R.S. 10:9-101 et seqET SEQ.). (iib) Borrower The Company hereby waives: (ai) the benefit of appraisement provided for in Articles 2332, 2336, 2723 and 2724 of the Louisiana Code of Civil Procedure and all other laws conferring the same; (bii) the demand and three (3) days notice of demand delay as provided in Articles 2639 and 2721 of the Louisiana Code of Civil Procedure; (iii) the notice of seizure provided by Articles 2293 and 2721 of the Louisiana Code of Civil Procedure; and (iv) the three (3) days delay provided for in Articles 2331 and 2722 of the Louisiana Code of Civil Procedure. (c) Pursuant to the authority contained in La.R.S. 9:5136 through 9:5140.1, the Company and the Collateral Agent do hereby expressly designate the Collateral Agent or its designee to be keeper or receiver ("KEEPER") for the benefit of the Collateral Agent or any assignee of the Collateral Agent, such designation to take effect immediately upon any seizure of any of the Collateral under writ of executory process or under writ of sequestration or fieri facias as an incident to an action brought by the Collateral Agent. The fees of the Keeper are hereby fixed at five percent (5%) of the amount due or sued for or claimed or sought to be protected, preserved or enforced in the proceeding for the recognition of the security interest created hereby, and the payment of such fees shall be secured by the security interest in the Collateral granted in this Agreement.

Special Louisiana Provisions. Insofar as the validity or perfection of the security interest hereunder or the remedies hereunder are governed by the laws of the State of Louisiana, Borrower The Grantor hereby agrees as follows: (ia) For purposes of Louisiana executory process, Borrower the Grantor acknowledges the Obligations secured hereby, whether now existing or to arise hereafter, and confesses judgment thereon if not paid when duethereon. Upon the occurrence of an Event of Default and at any time thereafter so long as the same shall be continuing, and in addition to all of the other rights and remedies granted the Lender Agent hereunder, it shall be lawful for and Borrower the Grantor hereby authorizes Lender the Agent without making a demand or putting Borrower the Grantor in default, a putting in default being expressly waived, to cause all and singular the Collateral to be seized and sold after due process of law, Borrower the Grantor waiving the benefit of any and all laws or parts of laws relative to the appraisement of property seized and sold under executory process or other legal process, and consenting that the Collateral be sold without appraisement, either in its entirety or in lots or parcels, as Lender the Agent may determine, to the highest bidder for cash or on such other terms as the plaintiff in such proceedings may direct. In addition, Lender the Agent shall have all of the-the rights and remedies available to it under this Agreement or under the Louisiana Commercial Laws (Louisiana Revised Statutes, Title 10), then in effect (La. R.S. 10:9-101 et seq.).this (iib) Borrower the Grantor hereby waives: (ai) the benefit of appraisement provided for in Articles 2332, 2336, 2723 and 2724 of the Louisiana Code of Civil Procedure and all other laws conferring the same; (bii) the demand and three (3) days days' notice of demand as provided in Articles 2639 and 2721 of the Louisiana Code of Civil Procedure; (iii) the notice of seizure provided by Articles 2293 and 2721 of the Louisiana Code of Civil Procedure; and (iv) the three (3) days' delay provided for in Articles 2331 and 2722 of the Louisiana Code of Civil Procedure. (c) the Grantor expressly authorizes and agrees that the Agent shall have the right to appoint a keeper of the Collateral, or any part thereof, pursuant to the terms and provisions of La. R.S. 9:5136.

Special Louisiana Provisions. Insofar as the validity or perfection of the security interest hereunder or the remedies hereunder are governed by the laws of the State of Louisiana, Borrower agrees as follows: (ia) For purposes of Louisiana executory process, Borrower acknowledges the Obligations obligations secured hereby, whether now existing exiting or to arise hereafter, and confesses judgment thereon if not paid when due. Upon the occurrence of an Event of Default and at any time thereafter so long as the same shall be continuing, and in addition to all of the rights and remedies granted the Lender hereunder, it shall be lawful for and Borrower hereby authorizes Lender without making a demand or putting Borrower in default, a putting in default being expressly waived, to cause all and singular the Collateral to be seized and sold after due process of law, Borrower waiving the benefit of any and all laws or parts of laws relative to appraisement of property seized and sold under executory process or other legal process, and consenting that the Collateral be sold without appraisement, either in its entirety or in lots or parcels, as Lender may determine, to the highest bidder for cash or on such other terms as the plaintiff in such proceedings may direct. In addition, Lender shall have all of the-the rights and remedies available to it under this Agreement or under the Louisiana Commercial Laws (Louisiana Revised Statutes, Title 10), then in effect (La. R.S. 10:9-101 et seq.). (iib) Borrower hereby waives: (ai) Borrower hereby waives: the benefit of appraisement provided for in Articles 2332, 2336, 2723 and 2724 of the Louisiana Code of Civil Procedure and all other laws conferring the same; (bii) the demand and three (3) days notice of demand as provided in Articles 2639 and 2721 of the Louisiana Code of Civil Procedure; (iii) the notice of seizure provided by Articles 2293 and 2721 of the Louisiana Code of Civil Procedure; (iv) the three (3) day delay provided for in Articles 2331 and 2722 of the Louisiana Code of Civil Procedure; (v) Borrower expressly authorizes and agrees that Lender shall have the right to appoint a keeper of the Collateral pursuant to the terms and provisions of La. R.S. 9:5136; and (vi) All liens and security interests created and perfected by Borrower prior to the effective date of Chapter 9 of the Louisiana Commercial Laws (La. R.S. 10:9-101 et sect.) (the "Existing Liens") shall remain effective according to their terms and the applicable provisions of law, and nothing contained herein shall constitute a novation of, or otherwise extinguish such Existing Liens.

Special Louisiana Provisions. Insofar as the validity or perfection of the security interest hereunder or the remedies hereunder are governed by the laws of the State of Louisiana, Borrower The Company hereby agrees as follows: (ia) For purposes of Louisiana executory process, Borrower the Company acknowledges the Guaranteed Obligations secured hereby, whether now existing or to arise hereafter, and confesses judgment thereon if not paid when duethereon. Upon the occurrence of an Event of Default and at any time thereafter so long as the same shall be continuing, and in addition to all of the other rights and remedies granted the Lender Agent hereunder, it shall be lawful for and Borrower the Company hereby authorizes Lender the Agent without making a demand or putting Borrower the Company in default, a putting in default being expressly waived, to cause all and singular the Collateral to be seized and sold after due process of law, Borrower the Company waiving the benefit of any and all laws or parts of laws relative to the appraisement of property seized and sold under executory process or other legal process, and consenting that the Collateral be sold without appraisement, either in its entirety or in lots or parcels, as Lender the Agent may determine, to the highest bidder for cash or on such other terms as the plaintiff in such proceedings may direct. In addition, Lender the Agent shall have all of the-the rights and remedies available to it under this Agreement or under the Louisiana Commercial Laws (Louisiana Revised Statutes, Title 10), then in effect, and under Chapter 9 of the Louisiana Commercial Laws, then in effect (La. R.S. 10:9-101 et seq.). (iib) Borrower the Company hereby waives: (ai) the benefit of appraisement provided for in Articles 2332, 2336, 2723 and 2724 of the Louisiana Code of Civil Procedure and all other laws conferring the same; (bii) the demand and three (3) days days' notice of demand as provided in Articles 2639 and 2721 of the Louisiana Code of Civil Procedure; (iii) the notice of seizure provided by Articles 2293 and 2721 of the Louisiana Code of Civil Procedure; and (iv) the three (3) days' delay provided for in Articles 2331 and 2722 of the Louisiana Code of Civil Procedure. (c) the Company expressly authorizes and agrees that the Agent shall have the right to appoint a keeper of the Collateral, or any part thereof, pursuant to the terms and provisions of La. R.S. 9:5136.

Special Louisiana Provisions. Insofar as the validity or perfection of the security interest in any of the Collateral hereunder or any of the remedies hereunder are governed by the laws of the State of Louisiana, Borrower the Company agrees as follows: (ia) For purposes of Louisiana executory process, Borrower the Company acknowledges the Secured Obligations secured hereby, whether now existing or to arise hereafter, hereafter and confesses confess judgment thereon if not paid when duethereon. Upon the occurrence of an Event of Default and at any time thereafter so long as the same shall be continuing, and in addition to all of the other rights and remedies granted the Lender hereunderTrustee under this Agreement, it shall be lawful for and Borrower the Company hereby authorizes Lender the Trustee without making a demand or putting Borrower the Company in default, a putting in default being expressly waived, to cause all and singular or any part of the Collateral to be seized and sold after due process of law, Borrower whether under executory process or under writ of fieri facias issued in execution of an ordinary judgment obtained on the Secured Obligations, the Company waiving the benefit of any and all laws or parts of laws relative to appraisement of property seized and sold under executory process or other legal process, and consenting that the Collateral be sold without appraisement, either in its entirety or in lots or parcels, as Lender the Trustee may determine, to the highest bidder for cash or on such other terms as the plaintiff in such proceedings may direct. In addition, Lender the Trustee shall have all of the-the rights and remedies available to it under this Agreement or and under Chapter 9 of the Louisiana Commercial Laws (Louisiana Revised Statutes, Title 10)Laws, then in effect (La. R.S. 10:9-101 et seq.). (iib) Borrower The Company hereby waives: (ai) the benefit of appraisement provided for in Articles 2332, 2336, 2723 and 2724 of the Louisiana Code of Civil Procedure and all other laws conferring the same; (bii) the demand and three (3) days notice of demand delay as provided in Articles 2639 and 2721 of the Louisiana Code of Civil Procedure; (iii) the notice of seizure provided by Articles 2293 and 2721 of the Louisiana Code of Civil Procedure; and (iv) the three (3) days delay provided for in Articles 2331 and 2722 of the Louisiana Code of Civil Procedure. (c) Upon the occurrence of an Event of Default, in addition to all other rights herein conferred on the Trustee, the Company hereby expressly designates the Trustee, or any agents, servants, employees or other person, firm or corporation named by the Trustee at that time, as "Keeper" of the Collateral and pending the judicial sale thereof, with all the powers set forth in La. R.S. ss.ss. 9:5131 et seq. and La. R.S. ss. 9:5136 et seq. (as hereinafter xxx xe amended from time to time). All reasonable costs, expenses and liabilities of every character incurred by the Trustee or any other person, firm or corporation in connection with managing, operating and maintaining the Collateral, as Keeper, shall constitute a demand obligation owing by the Company to the Trustee. All such costs, fees, expenses and liabilities shall constitute a portion of the Secured Obligations secured by this Agreement. The Keeper shall be entitled to receive, as compensation in excess of such costs, expenses and liabilities, a reasonable amount to be fixed by the court based upon the Keeper's activities. The designation of a Keeper made herein shall not be deemed to require the Trustee to provoke the appointment of such a Keeper.

Special Louisiana Provisions. Insofar as the validity or perfection of the security interest in any of the Collateral hereunder or any of the remedies hereunder are governed by the laws of the State of Louisiana, Borrower the Company agrees as follows: (i) : For purposes of Louisiana executory process, Borrower the Company acknowledges the Secured Obligations secured hereby, whether now existing or to arise hereafter, hereafter and confesses confess judgment thereon if not paid when duethereon. Upon the occurrence of an Event of Default and at any time thereafter so long as the same shall be continuing, and in addition to all of the other rights and remedies granted the Lender hereunderTrustee under this Agreement, it shall be lawful for and Borrower the Company hereby authorizes Lender the Trustee without making a demand or putting Borrower the Company in default, a putting in default being expressly waived, to cause all and singular or any part of the Collateral to be seized and sold after due process of law, Borrower whether under executory process or under writ of fieri facias issued in execution of an ordinary judgment obtained on the Secured Obligations, the Company waiving the benefit of any and all laws or parts of laws relative to appraisement of property seized and sold under executory process or other legal process, and consenting that the Collateral be sold without appraisement, either in its entirety or in lots or parcels, as Lender the Trustee may determine, to the highest bidder for cash or on such other terms as the plaintiff in such proceedings may direct. In addition, Lender the Trustee shall have all of the-the rights and remedies available to it under this Agreement or and under Chapter 9 of the Louisiana Commercial Laws (Louisiana Revised Statutes, Title 10)Laws, then in effect (La. R.S. 10:9-101 et seq.). (ii) Borrower . The Company hereby waives: (a) : the benefit of appraisement provided for in Articles 2332, 2336, 2723 and 2724 of the Louisiana Code of Civil Procedure and all other laws conferring the same; (b) ; the demand and three (3) days notice of demand delay as provided in Articles 2639 and 2721 of the Louisiana Code of Civil Procedure;; the notice of seizure provided by Articles 2293 and 2721 of the Louisiana Code of Civil Procedure; and the three (3) days delay provided for in Articles 2331 and 2722 of the Louisiana Code of Civil Procedure. Upon the occurrence of an Event of Default, in addition to all other rights herein conferred on the Trustee, the Company hereby expressly designates the Trustee, or any agents, servants, employees or other person, firm or corporation named by the Trustee at that time, as "Keeper" of the Collateral and pending the judicial sale thereof, with all the powers set forth in La. R.S. ss.ss. 9:5131 et seq. and La. R.S. ss. 9:5136 et seq. (as hereinafter xxx xe amended from time to time). All reasonable costs, expenses and liabilities of every character incurred by the Trustee or any other person, firm or corporation in connection with managing, operating and maintaining the Collateral, as Keeper, shall constitute a demand obligation owing by the Company to the Trustee. All such costs, fees, expenses and liabilities shall constitute a portion of the Secured Obligations secured by this Agreement. The Keeper shall be entitled to receive, as compensation in excess of such costs, expenses and liabilities, a reasonable amount to be fixed by the court based upon the Keeper's activities. The designation of a Keeper made herein shall not be deemed to require the Trustee to provoke the appointment of such a Keeper.