Common use of Standards for Determining Commercial Reasonableness Clause in Contracts

Standards for Determining Commercial Reasonableness. Borrower and PFG agree that a sale or other disposition (collectively, “sale”) of any Collateral which complies with the following standards will conclusively be deemed to be commercially reasonable: (i) Notice of the sale is given to Borrower at least ten days prior to the sale, and, in the case of a public sale, notice of the sale is published at least five days before the sale in a newspaper of general circulation in the county where the sale is to be conducted; (ii) Notice of the sale describes the collateral in general, non-specific terms; (iii) The sale is conducted at a place designated by PFG, with or without the Collateral being present; (iv) The sale commences at any time between 8:00 a.m. and 6:00 p.m.; (v) Payment of the purchase price in cash or by cashier’s check or wire transfer is required; (vi) With respect to any sale of any of the Collateral, PFG may (but is not obligated to) direct any prospective purchaser to ascertain directly from Borrower any and all information concerning the same. PFG shall be free to employ other methods of noticing and selling the Collateral, in its discretion, if they are commercially reasonable.

Appears in 11 contracts

Samples: Loan and Security Agreement (Mattersight Corp), Loan and Security Agreement (Irvine Sensors Corp/De/), Loan and Security Agreement (Sonic Foundry Inc)

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Standards for Determining Commercial Reasonableness. Borrower and PFG Lender agree that a sale or other disposition (collectively, “saleSale”) of any Collateral which complies with the following standards will conclusively be deemed to be commercially reasonable: (i) Notice notice of the sale Sale is given to Borrower at least ten days prior to the saleSale, and, in the case of a public saleSale, notice of the sale Sale is published at least five days before the sale date of the Sale in a newspaper of general circulation in the county where the sale Sale is to be conducted; (ii) Notice notice of the sale Sale describes the collateral Collateral in general, non-specific terms; (iii) The sale the Sale is conducted at a place designated by PFGLender, with or without the Collateral being present; (iv) The sale the Sale commences at any time between 8:00 a.m. and 6:00 p.m.p.m; (v) Payment payment of the purchase price in cash or by cashier’s check or wire transfer is required; (vi) With with respect to any sale Sale of any of the Collateral, PFG Lender may (but is not obligated to) direct any prospective purchaser to ascertain directly from Borrower any and all information concerning the same. PFG Lender shall be free to employ other methods of noticing and selling the Collateral, in its discretion, if they are commercially reasonable.

Appears in 4 contracts

Samples: Loan Agreement (BRIX REIT, Inc.), Loan and Security Agreement (Biolase, Inc), Loan and Security Agreement (Nlight, Inc.)

Standards for Determining Commercial Reasonableness. Borrower and PFG ORIX agree that a sale or other disposition (collectively, “sale”) of any Collateral which complies with the following standards will conclusively be deemed to be commercially reasonable: (i) Notice of the sale is given to Borrower at least ten seven days prior to the sale, and, in the case of a public sale, notice of the sale is published at least five seven days before the sale in a newspaper of general circulation in the county where the sale is to be conducted; (ii) Notice of the sale describes the collateral in general, non-specific terms; (iii) The sale is conducted at a place designated by PFGORIX, with or without the Collateral being present; (iv) The sale commences at any time between 8:00 a.m. and 6:00 p.m.; (v) Payment of the purchase price in cash or by cashier’s check or wire transfer is required; (vi) With respect to any sale of any of the Collateral, PFG ORIX may (but is not obligated to) direct any prospective purchaser to ascertain directly from Borrower any and all information concerning the same. PFG ORIX shall be free to employ other methods of noticing and selling the Collateral, in its discretion, if they are commercially reasonable.

Appears in 4 contracts

Samples: Loan and Security Agreement (Tangoe Inc), Loan and Security Agreement (Tangoe Inc), Loan and Security Agreement (Tangoe Inc)

Standards for Determining Commercial Reasonableness. Borrower Borrower, Agent and PFG Lenders agree that a sale or other disposition (collectively, “saleSale”) of any Collateral which complies with the following standards will conclusively be deemed to be commercially reasonable: (i) Notice notice of the sale Sale is given to Borrower at least ten days prior to the saleSale, and, in the case of a public saleSale, notice of the sale Sale is published at least five days before the sale date of the Sale in a newspaper of general circulation in the county where the sale Sale is to be conducted; (ii) Notice notice of the sale Sale describes the collateral Collateral in general, non-specific terms; (iii) The sale the Sale is conducted at a place designated by PFGAgent, with or without the Collateral being present; (iv) The sale the Sale commences at any time between 8:00 a.m. and 6:00 p.m.; (v) Payment payment of the purchase price in cash or by cashier’s check or wire transfer is required; (vi) With with respect to any sale Sale of any of the Collateral, PFG Agent may (but is not obligated to) direct any prospective purchaser to ascertain directly from Borrower any and all information concerning the same. PFG Agent shall be free to employ other methods of noticing and selling the Collateral, in its discretion, if they are commercially reasonable.

Appears in 3 contracts

Samples: Loan and Security Agreement (Cardlytics, Inc.), Loan and Security Agreement, Loan and Security Agreement (Cardlytics, Inc.)

Standards for Determining Commercial Reasonableness. Borrower and PFG Bank agree that a sale or other disposition (collectively, “saleSale”) of any Collateral which complies with the following standards will conclusively be deemed to be commercially reasonable: (ia) Notice notice of the sale is given to Borrower at least ten days prior to the sale, and, in the case of a public sale, notice of the sale is published at least five days before the sale in a newspaper of general circulation in the county where the sale is to be conducted; (iib) Notice notice of the sale describes the collateral in general, non-specific terms; (iiic) The the sale is conducted at a place designated by PFGBank, with or without the Collateral being present; (ivd) The the sale commences at any time between 8:00 a.m. and 6:00 p.m.p.m; (ve) Payment payment of the purchase price in cash or by cashier’s check or wire transfer is required; and (vif) With with respect to any sale of any of the Collateral, PFG Bank may (but is not obligated to) direct any prospective purchaser to ascertain directly from Borrower any and all information concerning the same. PFG Bank shall be free to employ other methods of noticing and selling the Collateral, in its discretion, if they are commercially reasonable.

Appears in 3 contracts

Samples: Loan and Security Agreement (Redback Networks Inc), Loan and Security Agreement (Redback Networks Inc), Loan and Security Agreement (Fiberstars Inc /Ca/)

Standards for Determining Commercial Reasonableness. Borrower and PFG Multiplier agree that a sale or other disposition (collectively, “sale”) of any Collateral which complies with the following standards will conclusively be deemed to be commercially reasonable: (i) Notice of the sale is given to Borrower at least ten days prior to the sale, and, in the case of a public sale, notice of the sale is published at least five ten days before the sale in a newspaper of general circulation in the county where the sale is to be conducted; (ii) Notice of the sale describes the collateral in general, non-specific terms; (iii) The sale is conducted at a place designated by PFGMultiplier, with or without the Collateral being present; (iv) The sale commences at any time between 8:00 a.m. and 6:00 p.m.; (v) Payment of the purchase price in cash or by cashier’s check or wire transfer is required; (vi) With respect to any sale of any of the Collateral, PFG Multiplier may (but is not obligated to) direct any prospective purchaser to ascertain directly from Borrower any and all information concerning the same. PFG Multiplier shall be free to employ other methods of noticing and selling the Collateral, in its discretion, if they are commercially reasonable.

Appears in 3 contracts

Samples: Loan and Security Agreement (Winc, Inc.), Loan and Security Agreement (Winc, Inc.), Loan and Security Agreement (Winc, Inc.)

Standards for Determining Commercial Reasonableness. Borrower and PFG Lender agree that a sale or other disposition (collectively, “saleSale”) of any Collateral which complies with the following standards will conclusively be deemed to be commercially reasonable: (i) Notice notice of the sale Sale is given to Borrower at least ten days prior to the saleSale, and, in the case of o f a public saleSale, notice of the sale Sale is published at least five days before the sale date of the Sale in a newspaper of general circulation in the county where the sale Sale is to be conducted; (ii) Notice notice of the sale Sale describes the collateral Collateral in general, non-specific terms; (iii) The sale the Sale is conducted at a place designated by PFGLender, with or without the Collateral being present; (iv) The sale the Sale commences at any time between 8:00 a.m. and 6:00 p.m.; (v) Payment payment of the purchase price in cash or by cashier’s check or wire transfer is required; (vi) With with respect to any sale Sale of any of the Collateral, PFG Lender may (but is not obligated to) direct any prospective purchaser to ascertain directly from Borrower any and all information concerning the same. PFG Lender shall be free to employ other methods of noticing and selling the Collateral, in its discretion, if they are commercially reasonable.

Appears in 2 contracts

Samples: Loan and Security Agreement, Loan and Security Agreement (Nlight, Inc.)

Standards for Determining Commercial Reasonableness. Borrower and PFG Silicon agree that a sale or other disposition (collectively, “sale”) of any Collateral which complies with the following standards will conclusively be deemed to be commercially reasonable: (i) Notice of the sale is given to Borrower at least ten days prior to the sale, and, in the case of a public sale, notice of the sale is published at least five days before the sale in a newspaper of general circulation in the county where the sale is to be conducted; (ii) Notice of the sale describes the collateral in general, non-specific terms; (iii) The sale is conducted at a place designated by PFGSilicon, with or without the Collateral being present; (iv) The sale commences at any time between 8:00 a.m. and 6:00 p.m.p.m. (in the time zone where collateral is located); (v) Payment of the purchase price in cash or by cashier’s check or wire transfer is required; (vi) With respect to any sale of any of the Collateral, PFG Silicon may (but is not obligated to) direct any prospective purchaser to ascertain directly from Borrower any and all information concerning the same. PFG Silicon shall be free to employ other methods of noticing and selling the Collateral, in its discretion, if they are commercially reasonable.

Appears in 2 contracts

Samples: Loan and Security Agreement (Endocardial Solutions Inc), Loan and Security Agreement (Endocardial Solutions Inc)

Standards for Determining Commercial Reasonableness. Borrower and PFG Silicon agree that a sale or other disposition (collectively, “sale”) of any Collateral which complies with the following standards will conclusively be deemed to be commercially reasonable: (i) Notice of the sale is given to Borrower at least ten (10) days prior to the sale, and, in the case of a public sale, notice of the sale is published at least five days before the sale in a newspaper of general circulation in the county where the sale is to be conducted; (ii) Notice of the sale describes the collateral in general, non-specific terms; (iii) The sale is conducted at a place designated by PFGSilicon in such notices, with or without the Collateral being present; (iv) The sale commences at any time between 8:00 a.m. and 6:00 p.m.; (v) Payment of the purchase price in cash or by cashier’s check or wire transfer is required; and (vi) With respect to any sale of any of the Collateral, PFG Silicon may (but is not obligated to) direct any prospective purchaser to ascertain directly from Borrower any and all information concerning the same. PFG Silicon shall be free to employ other methods of noticing and selling the Collateral, in its discretion, if they are commercially reasonable.

Appears in 2 contracts

Samples: Loan and Security Agreement (Cogent Communications Group Inc), Loan and Security Agreement (Cogent Communications Group Inc)

Standards for Determining Commercial Reasonableness. Borrower and PFG Coast agree that a sale or other disposition (collectively, "sale") of any Collateral which complies with the following standards will conclusively be deemed to be commercially reasonable: : (ia) Notice of the sale is given to Borrower at least ten five (5) days prior to the sale, and, in the case of a public sale, notice of the sale is published at least five (5) days before the sale in a newspaper of general circulation in the county where the sale is to be conducted; ; (iib) Notice of the sale describes the collateral in general, non-specific terms; ; (iiic) The sale is conducted at a place designated by PFGCoast, with or without the Collateral being present; ; (ivd) The sale commences at any time between 8:00 a.m. and 6:00 p.m.; p.m. Los Angeles, California time; (ve) Payment of the purchase price in cash or by cashier’s 's check or wire transfer is required; and (vif) With respect to any sale of any of the Collateral, PFG Coast may (but is not obligated to) direct any prospective purchaser to ascertain directly from Borrower any and all information concerning the same. PFG Coast shall be free to employ other methods of noticing and selling the Collateral, in its discretion, if they are commercially reasonable.

Appears in 2 contracts

Samples: Loan and Security Agreement (Fix Corp International Inc), Loan and Security Agreement (Symposium Corp)

Standards for Determining Commercial Reasonableness. Borrower Each Obligor and PFG agree that a sale or other disposition (collectively, “sale”) of any Collateral which complies with the following standards will conclusively be deemed to be commercially reasonable: (i) Notice of the sale is given to Borrower such Obligor at least ten days prior to the sale, and, in the case of a public sale, notice of the sale is published at least five days before the sale in a newspaper of general circulation in the county where the sale is to be conducted; (ii) Notice of the sale describes the collateral in general, non-specific terms; (iii) The sale is conducted at a place designated by PFG, with or without the Collateral being present; (iv) The sale commences at any time between 8:00 a.m. and 6:00 p.m.; (v) Payment of the purchase price in cash or by cashier’s check or wire transfer is required; (vi) With respect to any sale of any of the Collateral, PFG may (but is not obligated to) direct any prospective purchaser to ascertain directly from Borrower an Obligor any and all information concerning the same. PFG shall be free to employ other methods of noticing and selling the Collateral, in its discretion, if they are commercially reasonable.

Appears in 2 contracts

Samples: Loan and Security Agreement (Healthcare Corp of America), Loan and Security Agreement (Selway Capital Acquisition Corp.)

Standards for Determining Commercial Reasonableness. Borrower and PFG agree that a sale or other disposition (collectively, “sale”) of any Collateral which complies with the following standards will conclusively be deemed to be commercially reasonable: (i) Notice of the sale is given to Borrower at least ten days prior to the sale, and, in the case of a public sale, notice of the sale is published at least five days before the sale in a newspaper of general circulation in the county where the sale is to be conducted; (ii) Notice of the sale describes the collateral in general, non-specific terms; (iii) The sale is conducted at a place designated by PFG, with or without the Collateral being present; (iv) The sale commences at any time between 8:00 a.m. and 6:00 p.m.p.m; (v) Payment of the purchase price in cash or by cashier’s check or wire transfer is required; (vi) With respect to any sale of any of the Collateral, PFG may (but is not obligated to) direct any prospective purchaser to ascertain directly from Borrower any and all information concerning the same. PFG shall be free to employ other methods of noticing and selling the Collateral, in its discretion, if they are commercially reasonable.

Appears in 2 contracts

Samples: Loan and Security Agreement (Interwave Communications International LTD), Loan and Security Agreement (Bioject Medical Technologies Inc)

Standards for Determining Commercial Reasonableness. Borrower and PFG agree that a sale or other disposition (collectively, “sale”) of any Collateral which complies with the following standards will conclusively be deemed to be commercially reasonable: (i) Notice of the sale is given to Borrower at least ten (10) days prior to the sale, and, in the case of a public sale, notice of the sale is published at least five days before the sale in a newspaper of general circulation in the county where the sale is to be conducted; (ii) Notice of the sale describes the collateral in general, non-specific terms; (iii) The sale is conducted at a place designated by PFG, with or without the Collateral being present; (iv) The sale commences at any time between 8:00 a.m. and 6:00 p.m.; (v) Payment of the purchase price in cash or by cashier’s check or wire transfer is required; (vi) With respect to any sale of any of the Collateral, PFG may (but is not obligated to) direct any prospective purchaser to ascertain directly from Borrower any and all information concerning the same. PFG shall be free to employ other methods of noticing and selling the Collateral, in its discretion, if they are commercially reasonable.

Appears in 2 contracts

Samples: Loan and Security Agreement (Cardiovascular Systems Inc), Loan and Security Agreement (Composite Technology Corp)

Standards for Determining Commercial Reasonableness. Borrower Debtor and PFG agree that a sale or other disposition (collectively, “sale”) of any Collateral which complies with the following standards will conclusively be deemed to be commercially reasonable: (i) Notice of the sale is given to Borrower Debtor at least ten days prior to the sale, and, in the case of a public sale, notice of the sale is published at least five days before the sale in a newspaper of general circulation in the county where the sale is to be conducted; (ii) Notice of the sale describes the collateral in general, non-specific terms; (iii) The sale is conducted at a place designated by PFG, with or without the Collateral being present; (iv) The sale commences at any time between 8:00 a.m. and 6:00 p.m.p.m; (v) Payment of the purchase price in cash or by cashier’s check or wire transfer is required; (vi) With respect to any sale of any of the Collateral, PFG may (but is not obligated to) direct any prospective purchaser to ascertain directly from Borrower Debtor any and all information concerning the same. PFG shall be free to employ other methods of noticing and selling the Collateral, in its discretion, if they are commercially reasonable.

Appears in 1 contract

Samples: Loan and Security Agreement (Interwave Communications International LTD)

Standards for Determining Commercial Reasonableness. Borrower and PFG Lender agree that a sale or other disposition (collectively, “sale”"Sale") of any Collateral which complies with the following standards will conclusively be deemed to be commercially reasonable: (i) Notice notice of the sale Sale is given to Borrower at least ten days prior to the saleSale, and, in the case of a public saleSale, notice of the sale Sale is published at least five days before the sale date of the Sale in a newspaper of general circulation in the county where the sale Sale is to be conducted; (ii) Notice notice of the sale Sale describes the collateral Collateral in general, non-specific terms; (iii) The sale the Sale is conducted at a place designated by PFGLender, with or without the Collateral being present; (iv) The sale the Sale commences at any time between 8:00 a.m. and 6:00 p.m.p.m; (v) Payment payment of the purchase price in cash or by cashier’s 's check or wire transfer is required; (vi) With with respect to any sale Sale of any of the Collateral, PFG Lender may (but is not obligated to) direct any prospective purchaser to ascertain directly from Borrower any and all information concerning the same. PFG Lender shall be free to employ other methods of noticing and selling the Collateral, in its discretion, if they are commercially reasonable.

Appears in 1 contract

Samples: Loan and Security Agreement (CalAmp Corp.)

Standards for Determining Commercial Reasonableness. Borrower and PFG agree that a sale or other disposition (collectively, “sale”) of any Collateral which complies with the following standards will conclusively be deemed to be commercially reasonable: (i) Notice of the sale is given to Borrower at least ten days prior to the sale, and, in the case of a public sale, notice of the sale is published at least five days before the sale in a newspaper of general circulation in the county where the sale is to be conducted; (ii) Notice of the sale describes the collateral in general, non-specific terms; (iii) The sale is conducted at a place designated by PFG, with or without the Collateral being present; (iv) The sale commences at any time between 8:00 a.m. and 6:00 p.m.; (v) Payment of the purchase price in cash or by cashier’s check cheek or wire transfer is required; (vi) With respect to any sale of any of the Collateral, PFG may (but is not obligated to) direct any prospective purchaser to ascertain directly from Borrower any and all information concerning the same. PFG shall be free to employ other methods of noticing and selling the Collateral, in its discretion, if they are commercially reasonable.

Appears in 1 contract

Samples: Loan and Security Agreement (Comverge, Inc.)

Standards for Determining Commercial Reasonableness. Borrower and PFG agree that a sale or other disposition (collectively, “sale”) of any Collateral which complies with the following standards will conclusively conclu­sively be deemed to be commercially reasonable: (i) Notice of the sale is given to Borrower at least ten days prior to the sale, and, in the case of a public sale, notice of the sale is published at least five days before the sale in a newspaper of general circulation in the county where the sale is to be conducted; (ii) Notice of the sale describes the collateral in general, non-specific terms; (iii) The sale is conducted at a place designated by PFG, with or without the Collateral being present; (iv) The sale commences at any time between 8:00 a.m. and 6:00 p.m.; (v) Payment of the purchase price in cash or by cashier’s check or wire transfer is required; and (vi) With respect to any sale of any of the Collateral, PFG may (but is not obligated to) direct any prospective purchaser to ascertain directly from Borrower any and all information concerning the same. PFG shall be free to employ other methods of noticing and selling the Collateral, in its discretion, if they are commercially reasonable.

Appears in 1 contract

Samples: Loan and Security Agreement (EdgeWave, Inc.)

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Standards for Determining Commercial Reasonableness. Borrower and PFG agree that a sale or other disposition (collectively, “sale”) of any Collateral which complies with the following standards will conclusively conclu­sively be deemed to be commercially reasonable: (i) Notice of the sale is given to Borrower at least ten days prior to the sale, and, in the case of a public sale, notice of the sale is published at least five days before the sale in a newspaper of general circulation in the county where the sale is to be conducted; (ii) Notice of the sale describes the collateral in general, non-specific terms; (iii) The sale is conducted at a place designated by PFG, with or without the Collateral being present; (iv) The sale commences at any time between 8:00 a.m. and 6:00 p.m.; (v) Payment of the purchase price in cash or by cashier’s check or wire transfer is required; (vi) With respect to any sale of any of the Collateral, PFG may (but is not obligated to) direct any prospective purchaser to ascertain directly from Borrower any and all information concerning the same. PFG shall be free to employ other methods of noticing and selling the Collateral, in its discretion, if they are commercially reasonable.

Appears in 1 contract

Samples: Loan and Security Agreement (Advanced Photonix Inc)

Standards for Determining Commercial Reasonableness. Borrower and PFG Coast agree that a sale or other disposition (collectively, “sale”Asale@) of any Collateral which complies with the following standards will conclusively be deemed to be commercially reasonable: : (ia) Notice of the sale is given to Borrower at least ten seven (7) days prior to the sale, and, in the case of a public sale, notice of the sale is published at least five seven (7) days before the sale in a newspaper of general circulation in the county where the sale is to be conducted; ; (iib) Notice of the sale describes the collateral in general, non-specific terms; ; (iiic) The sale is conducted at a place designated by PFGCoast, with or without the Collateral being present; ; (ivd) The sale commences at any time between 8:00 a.m. and 6:00 p.m.; p.m Los Angeles, California time; (ve) Payment of the purchase price in cash or by cashier’s =s check or wire transfer is required; and (vif) With respect to any sale of any of the Collateral, PFG Coast may (but is not obligated to) direct any prospective purchaser to ascertain directly from Borrower any and all information concerning the same. PFG Coast shall be free to employ other methods of noticing and selling the Collateral, in its discretion, if they are commercially reasonable.

Appears in 1 contract

Samples: Loan and Security Agreement (Avtel Communications Inc/De)

Standards for Determining Commercial Reasonableness. Borrower and PFG Bank agree that a sale or other disposition (collectively, “sale”"Sale") of any Collateral which complies with the following standards will conclusively be deemed to be commercially reasonable: (ia) Notice notice of the sale is given to Borrower at least ten days prior to the sale, and, in the case of a public sale, notice of the sale is published at least five days before the sale in a newspaper of general circulation in the county where the sale is to be conducted; (iib) Notice notice of the sale describes the collateral in general, non-specific terms; (iiic) The the sale is conducted at a place designated by PFGBank, with or without the Collateral being present; (ivd) The the sale commences at any time between 8:00 a.m. and 6:00 p.m.p.m; (ve) Payment payment of the purchase price in cash or by cashier’s 's check or wire transfer is required; and (vif) With with respect to any sale of any of the Collateral, PFG Bank may (but is not obligated to) direct any prospective purchaser to ascertain directly from Borrower any and all information concerning the same. PFG Bank shall be free to employ other methods of noticing and selling the Collateral, in its discretion, if they are commercially reasonable.

Appears in 1 contract

Samples: Loan and Security Agreement (Fiberstars Inc /Ca/)

Standards for Determining Commercial Reasonableness. Borrower Each Loan Party and PFG Lender agree that a sale or other disposition (collectively, “saleSale”) of any Collateral which complies with the following standards will conclusively be deemed to be commercially reasonable: (i) Notice notice of the sale Sale is given to Borrower such Loan Party at least ten days prior to the saleSale, and, in the case of a public saleSale, notice of the sale Sale is published at least five days before the sale date of the Sale in a newspaper of general circulation in the county where the sale Sale is to be conducted; (ii) Notice notice of the sale Sale describes the collateral Collateral in general, non-specific terms; (iii) The sale the Sale is conducted at a place designated by PFGLender, with or without the Collateral being present; (iv) The sale the Sale commences at any time between 8:00 a.m. and 6:00 p.m.p.m; (v) Payment payment of the purchase price in cash or by cashier’s check or wire transfer is required; (vi) With with respect to any sale Sale of any of the Collateral, PFG Lender may (but is not obligated to) direct any prospective purchaser to ascertain directly from Borrower such Loan Party any and all information concerning the same. PFG Lender shall be free to employ other methods of noticing and selling the Collateral, in its discretion, if they are commercially reasonable.

Appears in 1 contract

Samples: Loan and Security Agreement (On Deck Capital, Inc.)

Standards for Determining Commercial Reasonableness. Borrower and PFG agree that a sale or other disposition (collectively, “sale”) of any Collateral which complies with the following standards will conclusively conclu­sively be deemed to be commercially reasonable: (i) Notice of the sale is given to Borrower at least ten (10) days prior to the sale, and, in the case of a public sale, notice of the sale is published at least five days before the sale in a newspaper of general circulation in the county where the sale is to be conducted; (ii) Notice of the sale describes the collateral in general, non-specific terms; (iii) The sale is conducted at a place designated by PFG, with or without the Collateral being present; (iv) The sale commences at any time between 8:00 a.m. and 6:00 p.m.; (v) Payment of the purchase price in cash or by cashier’s check or wire transfer is required; (vi) With respect to any sale of any of the Collateral, PFG may (but is not obligated to) direct any prospective purchaser to ascertain directly from Borrower any and all information concerning the same. PFG shall be free to employ other methods of noticing and selling the Collateral, in its discretion, if they are commercially reasonable.

Appears in 1 contract

Samples: Loan and Security Agreement (Comverge, Inc.)

Standards for Determining Commercial Reasonableness. Borrower and PFG agree that a sale or other disposition (collectively, "sale") of any Collateral which complies with the following standards will conclusively be deemed to be commercially reasonable: (i) Notice of the sale is given to Borrower at least ten days prior to the sale, and, in the case of a public sale, notice of the sale is published at least five days before the sale in a newspaper of general circulation in the county where the sale is to be conducted; (ii) Notice of the sale describes the collateral in general, non-specific terms; (iii) The sale is conducted at a place designated by PFG, with or without the Collateral being present; (iv) The sale commences at any time between 8:00 a.m. a m and 6:00 p.m.; (v) Payment of the purchase price in cash or by cashier’s 's check or wire transfer is required; (vi) With respect to any sale of any of the Collateral, PFG may (but is not obligated to) direct any prospective purchaser to ascertain directly from Borrower any and all information concerning the same. PFG shall be free to employ other methods of noticing and selling the Collateral, in its discretion, if they are commercially reasonable.

Appears in 1 contract

Samples: Loan and Security Agreement (St. Bernard Software, Inc.)

Standards for Determining Commercial Reasonableness. Borrower and PFG agree that a sale or other disposition (collectively, “sale”) of any Collateral which complies with the following standards will conclusively be deemed to be commercially reasonable: (i) Notice of the sale is given to Borrower at least ten days prior to the sale, and, in the case of a public sale, notice of the sale is published at least five days before the sale in a newspaper of general circulation in the county where the sale is to be conducted; (ii) Notice of the sale describes the collateral in general, non-specific terms; (iii) The sale is conducted at a place designated by PFG, with or without the Collateral being present; (iv) The sale commences at any time between 8:00 a.m. and 6:00 p.m.; (v) Payment of the purchase price in cash or by cashier’s check or wire transfer is required; (vi) With respect to any sale of any of the Collateral, PFG may (but is not obligated to) direct any prospective purchaser to ascertain directly from Borrower any and all information concerning the same. Subject to the rights of the Senior Lender, PFG shall be free to employ other methods of noticing and selling the Collateral, in its discretion, if they are commercially reasonable.

Appears in 1 contract

Samples: Loan and Security Agreement (North American Scientific Inc)

Standards for Determining Commercial Reasonableness. Each Borrower and PFG agree that a sale or other disposition (collectively, “sale”) of any Collateral which complies with the following standards will conclusively be deemed to be commercially reasonable: (i) Notice of the sale is given to such Borrower at least ten days prior to the sale, and, in the case of a public sale, notice of the sale is published at least five days before the sale in a newspaper of general circulation in the county where the sale is to be conducted; (ii) Notice of the sale describes the collateral in general, non-specific terms; (iii) The sale is conducted at a place designated by PFG, with or without the Collateral being present; (iv) The sale commences at any time between 8:00 a.m. and 6:00 p.m.; (v) Payment of the purchase price in cash or by cashier’s check or wire transfer is required; (vi) With respect to any sale of any of the Collateral, PFG may (but is not obligated to) direct any prospective purchaser to ascertain directly from such Borrower any and all information concerning the same. PFG shall be free to employ other methods of noticing and selling the Collateral, in its discretion, if they are commercially reasonable.

Appears in 1 contract

Samples: Loan and Security Agreement (Xenogen Corp)

Standards for Determining Commercial Reasonableness. Borrower and PFG agree that a sale or other disposition (collectively, “sale”) of any Collateral which complies with the following standards will conclusively be deemed to be commercially reasonable: (i) Notice of the sale is given to Borrower at least ten days prior to the sale, and, in the case of a public sale, notice of the sale is published at least five ten days before the sale in a newspaper of general circulation in the county where the sale is to be conducted; (ii) Notice of the sale describes the collateral in general, non-specific terms; (iii) The sale is conducted at a place designated by PFG, with or without the Collateral being present; (iv) The sale commences at any time between 8:00 a.m. and 6:00 p.m.; (v) Payment of the purchase price in cash or by cashier’s check or wire transfer is required; (vi) With respect to any sale of any of the Collateral, PFG may (but is not obligated to) direct any prospective purchaser to ascertain directly from Borrower any and all information concerning the same. PFG shall be free to employ other methods of noticing and selling the Collateral, in its discretion, if they are commercially reasonable.

Appears in 1 contract

Samples: Term Loan and Security Agreement (Sonics, Inc.)

Standards for Determining Commercial Reasonableness. Borrower Borrower, Agent and PFG Lenders agree that a sale or other disposition (collectively, “saleSale”) of any Collateral which complies with the following standards will conclusively conclu-sively be deemed to be commercially reasonable: (i) Notice notice of the sale Sale is given to Borrower at least ten days prior to the saleSale, and, in the case of a public saleSale, notice of the sale Sale is published at least five days before the sale date of the Sale in a newspaper of general circulation in the county where the sale Sale is to be conducted; (ii) Notice notice of the sale Sale describes the collateral Collateral in general, non-specific terms; (iii) The sale the Sale is conducted at a place designated by PFGAgent, with or without the Collateral being present; (iv) The sale the Sale commences at any time between 8:00 a.m. and 6:00 p.m.; (v) Payment payment of the purchase price in cash or by cashier’s check or wire transfer is required; (vi) With with respect to any sale Sale of any of the Collateral, PFG Agent may (but is not obligated to) direct any prospective purchaser to ascertain directly from Borrower any and all information concerning the same. PFG Agent shall be free to employ other methods of noticing and selling the Collateral, in its discretion, if they are commercially reasonable.

Appears in 1 contract

Samples: Loan and Security Agreement (Cardlytics, Inc.)

Standards for Determining Commercial Reasonableness. Borrower and PFG Lender agree that a sale or other disposition (collectively, “saleSale”) of any Collateral which complies with the following standards will conclusively be deemed to be commercially reasonable: (i) Notice notice of the sale Sale is given to Borrower at least ten days prior to the saleSale, and, in the case of a public saleSale, notice of the sale Sale is published at least five days before the sale date of the Sale in a newspaper of general circulation in the county where the sale Sale is to be conducted; (ii) Notice notice of the sale Sale describes the collateral Collateral in general, non-specific terms; (iii) The sale the Sale is conducted at a place designated by PFGLender, with or without the Collateral being present; (iv) The sale the Sale commences at any time between 8:00 a.m. and 6:00 p.m.; (v) Payment payment of the purchase price in cash or by cashier’s check or wire transfer is required; (vi) With with respect to any sale Sale of any of the Collateral, PFG Lender may (but is not obligated to) direct any prospective purchaser to ascertain directly from Borrower any and all information concerning the same. PFG Lender shall be free to employ other methods of noticing and selling the Collateral, in its discretion, if they are commercially reasonable.

Appears in 1 contract

Samples: Loan and Security Agreement (Xtera Communications, Inc.)

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