Specific Rights and Remedies. In addition to all other rights and remedies provided by law and the Loan documents, Bank, on the occurrence of any default, may: (i) accelerate and call due and payable any and all of the Obligations, including all principal, accrued interest and other sums due as of the date of default; (ii) impose the default rate of interest provided in any promissory note evidencing the Loan, with or without acceleration; (iii) file suit against Borrower or against any Other Obligor; (iv) seek specific performance or injunctive relief to enforce performance of the Obligations, whether or not a remedy at law exists or is adequate; (v) exercise any rights of a secured creditor under the Uniform Commercial Code, including the right to take possession of the Collateral without the use of judicial process or hearing of any kind and the right to require Borrower to assemble the Collateral at such place as Bank may specify; (vi) cease making advances or extending credit to Borrower and stop and retract the making of any advance which may have been requested by Borrower; and (vii) reduce the Maximum Line of Credit Amount. Borrower also hereby authorizes Bank, upon a default, but without prior notice to or demand upon Borrower and without prior opportunity of Borrower to be heard, to institute an action for replevin, with or without bond as Bank may elect, to obtain possession of any of the Collateral. In such action for replevin, a copy of this Agreement verified by affidavit of Bank or sworn on behalf of Bank shall constitute evidence of Bank’s right to possession of the Collateral.
Specific Rights and Remedies. Without limiting the generality of the foregoing:
(i) After an Event of Default shall have occurred and so long as it shall be continuing, each Applicant will, at the request of the Administrative Agent, cause all payments made under or in respect of all obligations owed to such Applicant to be paid directly to the Administrative Agent. The Administrative Agent shall hold all such payments as additional Collateral hereunder. The Administrative Agent shall not be liable to any Person for any incorrect or improper payment made pursuant to this Section 9.5(b)(i) in the absence of gross negligence or willful misconduct.
(ii) Each Applicant hereby constitutes the Administrative Agent its true and lawful attorney, irrevocably and with full power of substitution, in the name of such Applicant or otherwise, upon the occurrence and during the continuance of any Event of Default, (A) to give notice at any time to each account debtor or other obligor of the fact of assignment of the respective account or other obligation under this Agreement, (B) to demand, receive, compromise, sue xxx, and give acquittance for, any and all moneys and claims for money due and to become due under or arising out of such accounts and other obligations, (C) to endorse any checks or other instruments or orders in connection therewith, (D) to file any claims or take any actions or institute any proceedings which the Administrative Agent may deem to be necessary or advisable in its sole and complete discretion and to compromise, litigate or settle the same and (E) to take any other action which by the terms of this Agreement is to be taken by such Applicant.
(1) Upon the occurrence and during the continuance of any Event of Default, the Administrative Agent may do any one or more of the following acts:
(A) exercise all of the rights and remedies of a secured party under the provisions of applicable law;
(B) institute legal proceedings for the specific performance of any covenant or agreement herein undertaken by each Applicant or for aid in the execution of any power or remedy herein granted;
(C) institute legal proceedings for the sale, under a judgment or decree of any court of competent jurisdiction, of any of the Collateral;
(D) institute legal proceedings for the appointment of a receiver or receivers pending foreclosure hereunder or the sale of any of the Collateral under the order of a court of competent jurisdiction or under other legal process;
(E) personally, or by agents or attor...
Specific Rights and Remedies. (A) The Grantee agrees that the Grantor shall have the specific rights and remedies set forth in this Section 15. These rights and remedies are in addition to any and all other rights or remedies, now or hereafter available to the Grantor to enforce the provisions of this Ordinance, and will not be deemed waived by the exercise of any other right or remedy. The exercise of any such right or remedy by the Grantor shall not release the Grantee from its obligations or any liability under this ordinance, except as expressly provided for in this Ordinance or as necessary to avoid duplicative recovery from or payments by the Grantee.
Specific Rights and Remedies. In addition to all other rights and remedies provided by law and the Loan documents, Bank, upon the occurrence of any default, may: (i) accelerate and call due the unpaid principal balance and any promissory note evidencing the Loan, and all accrued interest and other sums due as of the date of default; (ii) impose the default rate of interest provided in any promissory note evidencing any of the Obligations with or without acceleration; (iii) file suit against Borrower or against any Other Obligor; (iv) seek specific performance or injunctive relief to enforce performance of the Obligations, whether or not a remedy at law exists or is adequate; (v) cease making advances or extending credit to Borrower and stop and retract the making of any advance which may have been requested by Borrower; and (vi) reduce the Maximum Line of Credit Amount.
Specific Rights and Remedies
