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Common use of Standards for Determining Commercial Reasonableness Clause in Contracts

Standards for Determining Commercial Reasonableness. Borrower and Lender 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 date of 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;

Appears in 2 contracts

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

Standards for Determining Commercial Reasonableness. The Borrower and Lender LxXxxx 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 the Borrower at least ten seven days prior to the Salesale, and, in the case of a public Salesale, notice of the Sale sale is published at least five seven days before the date of the Sale 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 in general, non-specific terms;

Appears in 1 contract

Samples: Loan and Security Agreement (Rentrak Corp)

Standards for Determining Commercial Reasonableness. Borrower and Lender Coast 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 five 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 date of the Sale 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;

Appears in 1 contract

Samples: Loan and Security Agreement (Cardiac Control Systems Inc)

Standards for Determining Commercial Reasonableness. Borrower and Lender GBC 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 seven days prior to the Salesale, and, in the case of a public Salesale, notice of the Sale sale is published at least five seven days before the date of the Sale 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;

Appears in 1 contract

Samples: Loan and Security Agreement (Mpath Interactive Inc/Ca)

Standards for Determining Commercial Reasonableness. Each Borrower or ONE and Lender Coast 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 sale is given to Borrower Borrowers or ONE at least ten seven (7) days prior to the Salesale, and, in the case of a public Salesale, notice of the Sale sale is published at least five seven (7) days before the date of the Sale sale in a newspaper of general circulation in the county where the Sale sale is to be conducted; (iib) notice Notice of the Sale sale describes the Collateral collateral in general, non-specific terms;

Appears in 1 contract

Samples: Loan and Security Agreement (Universal International Inc /Mn/)

Standards for Determining Commercial Reasonableness. Borrower and Lender Agent 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 five 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 date of the Sale 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;

Appears in 1 contract

Samples: Loan and Security Agreement (Intelligent Medical Imaging Inc)

Standards for Determining Commercial Reasonableness. Borrower and Lender Greyrock 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 seven days prior to the Salesale, and, in the case of a public Salesale, notice of the Sale sale is published at least five seven days before the date of the Sale 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-non- specific terms;

Appears in 1 contract

Samples: Loan and Security Agreement (P Com Inc)