Common use of Uniform Commercial Code Clause in Contracts

Uniform Commercial Code. Agent shall, with respect to the Personal Property, have all the rights, options and remedies of a secured party under the Code, including without limitation, the right to the possession of any such property or any part thereof, and the right to enter with legal process any premises where any such property may be found. Any requirement of said Code for reasonable notification shall be met by mailing written notice to Borrower at its address set forth in Section 31 hereof at least ten (10) days prior to the sale or other event for which such notice is required. Any such sale may be held as part of and in conjunction with any foreclosure sale of the other properties and rights constituting the Mortgaged Property in order that the Mortgaged Property, including the Personal Property, may be sold as a single parcel if the Agent elects. The Borrower hereby agrees that if the Agent demands or attempts to take possession of the Personal Property or any portion thereof in exercise of its rights and remedies hereunder, the Borrower will promptly turn over and deliver possession thereof to the Agent, and the Borrower authorizes, to the extent the Borrower may now or hereafter lawfully grant such authority, the Agent, its employees and agents, and potential bidders or purchasers to enter upon the Premises or any other office, building or property where the Personal Property or any portion thereof may at the time be located (or believed to be located) and the Agent may (i) remove the same therefrom or render the same inoperable (with or without removal from such location); (ii) repair, operate, use or manage the Personal Property or any portion thereof; (iii) maintain, repair or store the Personal Property or any portion thereof; (iv) view, inspect and prepare the Personal Property or any portion thereof for sale, lease or disposition; (v) sell, lease, dispose of or consume the same or bid thereon; or (vi) incorporate the Personal Property or any portion thereof into the Land or the Improvements or Fixtures and sell, convey or transfer the same. The expenses of retaking, selling and otherwise disposing of the Personal Property, including reasonable attorneys’ fees and legal expenses incurred in connection therewith, shall constitute so much additional Debt and shall be payable upon demand with interest at the Default Rate.

Appears in 4 contracts

Sources: Mortgage, Security Agreement, Fixture Filing and Assignment of Leases and Rents (Grubb & Ellis Healthcare REIT, Inc.), Mortgage, Security Agreement, Fixture Filing and Assignment of Leases and Rents (Grubb & Ellis Healthcare REIT, Inc.), Mortgage, Security Agreement, Fixture Filing and Assignment of Leases and Rents (Grubb & Ellis Healthcare REIT, Inc.)

Uniform Commercial Code. Agent shall, with respect to the Personal Property, Lender shall have all of the rights, options rights and remedies of a secured party under the Codeapplicable Uniform Commercial Code and other applicable Laws. Upon demand by Lender, including without limitationBorrowers shall assemble the Collateral and make it available to Lender, the right at a place designated by Lender. Subject to the terms of any applicable leases, Lender or its agents may without notice from time to time enter upon any Borrower’s premises to take possession of any such property the Collateral, to remove it, to render it unusable, to process it or any part thereofotherwise prepare it for sale, and the right or to enter with legal process any premises where any such property may be foundsell or otherwise dispose of it. Any requirement of said Code for reasonable notification shall be met by mailing written notice of the sale, disposition or other intended action by Lender with respect to Borrower the Collateral which is sent by regular mail, postage prepaid, to Borrowers at its the address set forth in Section 31 hereof 8.1 (Notices), or such other address of Borrowers which may from time to time be shown on Lender’s records, at least ten (10) days prior to the such sale, disposition or other action, shall constitute commercially reasonable notice to Borrowers. Lender may alternatively or additionally give such notice in any other commercially reasonable manner. Nothing in this Agreement shall require Lender to give any notice not required by applicable Laws. If any consent, approval, or authorization of any state, municipal or other Governmental Authority or of any other Person or of any Person having any interest therein, should be necessary to effectuate any sale or other event for which disposition of the Collateral, each Borrower agrees to execute all such notice is required. Any such sale applications and other instruments, and to take all other action, as may be held as required in connection with securing any such consent, approval or authorization. Borrowers recognize that Lender may be unable to effect a public sale of all or a part of the Collateral consisting of Investment Property by reason of certain prohibitions contained in the Securities Act of 1933, as amended, and other applicable Federal and state Laws. Lender may, therefore, in conjunction its discretion, take such steps as it may deem appropriate to comply with such Laws and may, for example, at any foreclosure sale of the other properties and rights constituting Collateral consisting of securities restrict the Mortgaged Property in order that the Mortgaged Property, including the Personal Property, may be sold as a single parcel if the Agent elects. The Borrower hereby agrees that if the Agent demands or attempts to take possession of the Personal Property or any portion thereof in exercise of its rights and remedies hereunder, the Borrower will promptly turn over and deliver possession thereof to the Agent, and the Borrower authorizes, to the extent the Borrower may now or hereafter lawfully grant such authority, the Agent, its employees and agents, and potential prospective bidders or purchasers as to enter upon their number, nature of business and investment intention, including, without limitation, a requirement that the Premises Persons making such purchases represent and agree to the satisfaction of Lender that they are purchasing such securities for their account, for investment, and not with a view to the distribution or resale of any thereof. Borrowers covenant and agree to do or cause to be done promptly all such acts and things as Lender may request from time to time and as may be necessary to offer and/or sell the securities or any other office, building or property where the Personal Property or part thereof in a manner which is valid and binding and in conformance with all applicable Laws. Upon any portion thereof may at the time be located (or believed to be located) and the Agent may (i) remove the same therefrom or render the same inoperable (with or without removal from such location); (ii) repair, operate, use or manage the Personal Property or any portion thereof; (iii) maintain, repair or store the Personal Property or any portion thereof; (iv) view, inspect and prepare the Personal Property or any portion thereof for sale, lease sale or disposition; (v) sell, leaseLender shall have the right to deliver, dispose assign and transfer to the purchaser thereof the Collateral consisting of or consume the same or bid thereon; or (vi) incorporate the Personal Property or any portion thereof into the Land or the Improvements or Fixtures and sell, convey or transfer the same. The expenses of retaking, selling and otherwise disposing of the Personal Property, including reasonable attorneys’ fees and legal expenses incurred in connection therewith, shall constitute securities so much additional Debt and shall be payable upon demand with interest at the Default Ratesold.

Appears in 4 contracts

Sources: Financing and Security Agreement (Gp Strategies Corp), Financing and Security Agreement (Gp Strategies Corp), Financing and Security Agreement (Gp Strategies Corp)

Uniform Commercial Code. Agent shall, with respect to the Personal Property, The Lender shall have all of the rights, options rights and remedies of a secured party under the Code, including without limitationapplicable Uniform Commercial Code and other applicable Laws. Upon demand by the Lender, the right Borrowers shall assemble the Collateral and make it available to the Lender, at a place designated by the Lender. The Lender or its agents may without notice from time to time enter upon any Borrower's premises to take possession of any such property the Collateral, to remove it, to render it unusable, to process it or any part thereofotherwise prepare it for sale, and the right or to enter with legal process any premises where any such property may be foundsell or otherwise dispose of it. Any requirement of said Code for reasonable notification shall be met by mailing written notice of the sale, disposition or other intended action by the Lender with respect to Borrower the Collateral which is sent by regular mail, postage prepaid, to the Borrowers at its the address set forth in Section 31 hereof 8.1 (Notices), or such other address of the Borrowers which may from time to time be shown on the Lender's records, at least ten (10) days prior to such sale, disposition or other action, shall constitute commercially reasonable notice to the Borrowers. The Lender may alternatively or additionally give such notice in any other commercially reasonable manner. Nothing in this Agreement shall require the Lender to give any notice not required by applicable Laws. If any consent, approval, or authorization of any state, municipal or other Governmental Authority or of any other Person or of any Person having any interest therein, should be necessary to effectuate any sale or other event for which disposition of the Collateral, the Borrowers agree to execute all such notice is required. Any such sale applications and other instruments, and to take all other action, as may be held as required in connection with securing any such consent, approval or authorization. The Borrowers recognize that the Lender may be unable to effect a public sale of all or a part of the Collateral consisting of Investment Property by reason of certain prohibitions contained in the Securities Act of 1933, as amended, and other applicable Federal and state Laws. The Lender may, therefore, in conjunction its discretion, take such steps as it may deem appropriate to comply with such Laws and may, for example, at any foreclosure sale of the other properties and rights constituting Collateral consisting of securities restrict the Mortgaged Property in order that the Mortgaged Property, including the Personal Property, may be sold as a single parcel if the Agent elects. The Borrower hereby agrees that if the Agent demands or attempts to take possession of the Personal Property or any portion thereof in exercise of its rights and remedies hereunder, the Borrower will promptly turn over and deliver possession thereof to the Agent, and the Borrower authorizes, to the extent the Borrower may now or hereafter lawfully grant such authority, the Agent, its employees and agents, and potential prospective bidders or purchasers as to enter upon their number, nature of business and investment intention, including, without limitation, a requirement that the Premises Persons making such purchases represent and agree to the satisfaction of the Lender that they are purchasing such securities for their account, for investment, and not with a view to the distribution or resale of any thereof. The Borrowers covenant and agree to do or cause to be done promptly all such acts and things as the Lender may request from time to time and as may be necessary to offer and/or sell the securities or any other office, building or property where the Personal Property or part thereof in a manner which is valid and binding and in conformance with all applicable Laws. Upon any portion thereof may at the time be located (or believed to be located) and the Agent may (i) remove the same therefrom or render the same inoperable (with or without removal from such location); (ii) repair, operate, use or manage the Personal Property or any portion thereof; (iii) maintain, repair or store the Personal Property or any portion thereof; (iv) view, inspect and prepare the Personal Property or any portion thereof for sale, lease sale or disposition; (v) sell, leasethe Lender shall have the right to deliver, dispose assign and transfer to the purchaser thereof the Collateral consisting of or consume the same or bid thereon; or (vi) incorporate the Personal Property or any portion thereof into the Land or the Improvements or Fixtures and sell, convey or transfer the same. The expenses of retaking, selling and otherwise disposing of the Personal Property, including reasonable attorneys’ fees and legal expenses incurred in connection therewith, shall constitute securities so much additional Debt and shall be payable upon demand with interest at the Default Ratesold.

Appears in 4 contracts

Sources: Financing Agreement (Argan Inc), Business Loan and Security Agreement (Vse Corp), Financing and Security Agreement (Argan Inc)

Uniform Commercial Code. Agent shall, with respect to the Personal Property, The Lender shall have all of the rights, options rights and remedies of a secured party under the Code, including without limitationapplicable Uniform Commercial Code and other applicable Laws. Upon demand by the Lender, the right Borrower shall assemble the Collateral and make it available to the Lender, at a place designated by the Lender. The Lender or its agents may without notice from time to time enter upon the Borrower’s premises to take possession of any such property the Collateral, to remove it, to render it unusable, to process it or any part thereofotherwise prepare it for sale, and the right or to enter with legal process any premises where any such property may be foundsell or otherwise dispose of it. Any requirement of said Code for reasonable notification shall be met by mailing written notice of the sale, disposition or other intended action by the Lender with respect to the Collateral which is sent by regular mail, postage prepaid, to the Borrower at its the address set forth in Section 31 hereof 8.1 (Notices), or such other address of the Borrower which may from time to time be shown on the Lender’s records, at least ten (10) days prior to such sale, disposition or other action, shall constitute commercially reasonable notice to the Borrower. The Lender may alternatively or additionally give such notice in any other commercially reasonable manner. Nothing in this Agreement shall require the Lender to give any notice not required by applicable Laws. If any consent, approval, or authorization of any state, municipal or other Governmental Authority or of any other Person or of any Person having any interest therein, should be necessary to effectuate any sale or other event for which disposition of the Collateral, the Borrower agrees to execute all such notice is required. Any such sale applications and other instruments, and to take all other action, as may be held as required in connection with securing any such consent, approval or authorization. The Borrower recognizes that the Lender may be unable to effect a public sale of all or a part of the Collateral consisting of Investment Property by reason of certain prohibitions contained in the Securities Act of 1933, as amended, and other applicable Federal and state Laws. The Lender may, therefore, in conjunction its discretion, take such steps as it may deem appropriate to comply with such Laws and may, for example, at any foreclosure sale of the other properties Collateral consisting of securities restrict the prospective bidders or purchasers as to their number, nature of business and rights constituting the Mortgaged Property in order investment intention, including, without limitation, a requirement that the Mortgaged PropertyPersons making such purchases represent and agree to the satisfaction of the Lender that they are purchasing such securities for their account, including for investment, and not with a view to the Personal Property, may be sold as a single parcel if the Agent electsdistribution or resale of any thereof. The Borrower hereby covenants and agrees that if to do or cause to be done promptly all such acts and things as the Agent demands or attempts Lender may request from time to take possession of time and as may be necessary to offer and/or sell the Personal Property securities or any portion part thereof in exercise of its rights a manner which is valid and remedies hereunderbinding and in conformance with all applicable Laws. Upon any such sale or disposition, the Borrower will promptly turn over Lender shall have the right to deliver, assign and deliver possession thereof transfer to the Agent, and purchaser thereof the Borrower authorizes, to the extent the Borrower may now or hereafter lawfully grant such authority, the Agent, its employees and agents, and potential bidders or purchasers to enter upon the Premises or any other office, building or property where the Personal Property or any portion thereof may at the time be located (or believed to be located) and the Agent may (i) remove the same therefrom or render the same inoperable (with or without removal from such location); (ii) repair, operate, use or manage the Personal Property or any portion thereof; (iii) maintain, repair or store the Personal Property or any portion thereof; (iv) view, inspect and prepare the Personal Property or any portion thereof for sale, lease or disposition; (v) sell, lease, dispose Collateral consisting of or consume the same or bid thereon; or (vi) incorporate the Personal Property or any portion thereof into the Land or the Improvements or Fixtures and sell, convey or transfer the same. The expenses of retaking, selling and otherwise disposing of the Personal Property, including reasonable attorneys’ fees and legal expenses incurred in connection therewith, shall constitute securities so much additional Debt and shall be payable upon demand with interest at the Default Ratesold.

Appears in 3 contracts

Sources: Financing and Security Agreement (ARGON ST, Inc.), Financing and Security Agreement (Healthextras Inc), Financing and Security Agreement (Healthextras Inc)

Uniform Commercial Code. The Agent shall, with respect to the Personal Property, shall have all of the rights, options rights and remedies of a secured party under the Code, including without limitationapplicable Uniform Commercial Code and other applicable Laws. Upon demand by the Agent, the right Borrower shall assemble the Collateral and make it available to the Agent, at a place designated by the Agent. The Agent or its agents may without notice from time to time enter upon the Borrower's premises to take possession of any such property the Collateral, to remove it, to render it unusable, to process it or any part thereofotherwise prepare it for sale, and the right or to enter with legal process any premises where any such property may be foundsell or otherwise dispose of it. Any requirement of said Code for reasonable notification shall be met by mailing written notice of the sale, disposition or other intended action by the Agent with respect to the Collateral which is sent by regular mail, postage prepaid, to the Borrower at its the address set forth in Section 31 hereof 9.1 of this Agreement, or such other address of the Borrower which may from time to time be shown on the Agent's records, at least ten (10) days prior to such sale, disposition or other action, shall constitute commercially reasonable notice to the Borrower. The Agent may alternatively or additionally give such notice in any other commercially reasonable manner. If any consent, approval, or authorization of any state, municipal or other Governmental Authority or of any other Person or of any Person having any interest therein, should be necessary to effectuate any sale or other event for which disposition of the Collateral, the Borrower agrees to execute all such notice is required. Any such sale applications and other instruments, and to take all other action, as may be held as required in connection with securing any such consent, approval or authorization. The Borrower recognizes that the Agent may be unable to effect a public sale of all or a part of the Collateral consisting of Securities by reason of certain prohibitions contained in the Securities Act of 1933, as amended, and other applicable Federal and state Laws. The Agent may, therefore, in conjunction its discretion, take such steps as it may deem appropriate to comply with such Laws and may, for example, at any foreclosure sale of the other properties Collateral consisting of securities restrict the prospective bidders or purchasers as to their number, nature of business and rights constituting the Mortgaged Property in order investment intention, including, without limitation, a requirement that the Mortgaged Property, including Persons making such purchases represent and agree to the Personal Property, may be sold as a single parcel if satisfaction of the Agent electsthat they are purchasing such securities for their account, for investment, and not with a view to the distribution or resale of any thereof. The Borrower hereby covenants and agrees that if the Agent demands to do or attempts to take possession of the Personal Property or any portion thereof in exercise of its rights and remedies hereunder, the Borrower will promptly turn over and deliver possession thereof to the Agent, and the Borrower authorizes, to the extent the Borrower may now or hereafter lawfully grant such authority, the Agent, its employees and agents, and potential bidders or purchasers to enter upon the Premises or any other office, building or property where the Personal Property or any portion thereof may at the time be located (or believed cause to be located) done promptly all such acts and things as the Agent may (i) remove request from time to time and as may be necessary to offer and/or sell the same therefrom or render the same inoperable (with or without removal from such location); (ii) repair, operate, use or manage the Personal Property Securities or any portion thereof; (iii) maintain, repair or store the Personal Property or part thereof in a manner which is valid and binding and in conformance with all applicable Laws. Upon any portion thereof; (iv) view, inspect and prepare the Personal Property or any portion thereof for sale, lease such sale or disposition; (v) sell, leasethe Agent shall have the right to deliver, dispose assign and transfer to the purchaser thereof the Collateral consisting of or consume the same or bid thereon; or (vi) incorporate the Personal Property or any portion thereof into the Land or the Improvements or Fixtures and sell, convey or transfer the same. The expenses of retaking, selling and otherwise disposing of the Personal Property, including reasonable attorneys’ fees and legal expenses incurred in connection therewith, shall constitute securities so much additional Debt and shall be payable upon demand with interest at the Default Ratesold.

Appears in 3 contracts

Sources: Financing and Security Agreement (BPC Holding Corp), Financing and Security Agreement (BPC Holding Corp), Financing and Security Agreement (BPC Holding Corp)

Uniform Commercial Code. Agent shallMortgagee may exercise any or all of its rights and remedies under the Uniform Commercial Code as adopted by the State of New York as in effect from time to time, with respect (or under the Uniform Commercial Code in force from time to time in any other state to the Personal Propertyextent the same is applicable law) or other applicable law as well as all other rights and remedies possessed by Mortgagee, have all of which shall be cumulative. Mortgagee is hereby authorized and empowered to enter the Property or other place where the collateral may be located without legal process, and to take possession of such personal property without notice or demand, which hereby are waived to the maximum extent permitted by the laws of the State of New York. Upon demand by Mortgagee, Mortgagor shall make such personal property available to Mortgagee at a place reasonably convenient to Mortgagee. Mortgagee may proceed under the Uniform Commercial Code as to all or any part of such personal property, and in conjunction therewith may exercise all of the rights, options remedies and remedies powers of a secured party creditor under the Uniform Commercial Code, including without limitation, the right to the possession of any such property or any part thereof, and the right to enter with legal process any premises where any such property may be found. Any requirement of said notification required by the Uniform Commercial Code for reasonable notification shall be met by mailing written notice to Borrower at its address set forth deemed reasonably and properly given if sent in Section 31 hereof accordance with the Notice provisions of this Mortgage at least ten (10) days prior to the before any sale or other event for which disposition of such notice is requiredpersonal property. Any such sale Mortgagee may choose to dispose of some or all of the property, in any combination consisting of both personal property and Property, in one or more public or private sales to be held in accordance with the Law and procedures applicable to real property, as part permitted by Article 9 of and in conjunction with any foreclosure the Uniform Commercial Code. Mortgagor agrees that such a sale of the other properties and rights constituting the Mortgaged such personal property together with Property in order that the Mortgaged Property, including the Personal Property, may be sold as constitutes a single parcel if the Agent elects. The Borrower hereby agrees that if the Agent demands or attempts to take possession commercially reasonable sale of the Personal Property or any portion thereof in exercise of its rights and remedies hereunder, the Borrower will promptly turn over and deliver possession thereof to the Agent, and the Borrower authorizes, to the extent the Borrower may now or hereafter lawfully grant such authority, the Agent, its employees and agents, and potential bidders or purchasers to enter upon the Premises or any other office, building or property where the Personal Property or any portion thereof may at the time be located (or believed to be located) and the Agent may (i) remove the same therefrom or render the same inoperable (with or without removal from such location); (ii) repair, operate, use or manage the Personal Property or any portion thereof; (iii) maintain, repair or store the Personal Property or any portion thereof; (iv) view, inspect and prepare the Personal Property or any portion thereof for sale, lease or disposition; (v) sell, lease, dispose of or consume the same or bid thereon; or (vi) incorporate the Personal Property or any portion thereof into the Land or the Improvements or Fixtures and sell, convey or transfer the same. The expenses of retaking, selling and otherwise disposing of the Personal Property, including reasonable attorneys’ fees and legal expenses incurred in connection therewith, shall constitute so much additional Debt and shall be payable upon demand with interest at the Default Ratepersonal property.

Appears in 3 contracts

Sources: Loan Agreement (Acadia Realty Trust), Loan Agreement (Acadia Realty Trust), Mortgage, Assignment of Leases and Rents and Security Agreement (Acadia Realty Trust)

Uniform Commercial Code. Agent shallMortgagee may exercise any or all of its rights and remedies under the Illinois or California Uniform Commercial Codes as in effect from time to time, with respect (or under the Uniform Commercial Code in force from time to time in any other state to the Personal Propertyextent the same is applicable law) or other applicable law as well as all other rights and remedies possessed by Mortgagee, have all of which shall be cumulative. Mortgagee is hereby authorized and empowered to enter the Property or other place where the Accessories may be located without legal process, and to take possession of the Accessories without notice or demand, which hereby are waived to the maximum extent permitted by the laws of the State of Illinois or California. Upon demand by Mortgagee, Mortgagor shall make the Accessories available to Mortgagee at a place reasonably convenient to Mortgagee. Mortgagee may proceed under the Uniform Commercial Code as to all or any part of the Accessories, and in conjunction therewith may exercise all of the rights, options remedies and remedies powers of a secured party creditor under the Uniform Commercial Code, including without limitation, the right to the possession of any such property or any part thereof, and the right to enter with legal process any premises where any such property may be found. Any requirement of said notification required by the Uniform Commercial Code for reasonable notification shall be met by mailing written notice to Borrower at its address set forth deemed reasonably and properly given if sent in Section 31 hereof accordance with the Notice provisions of this Mortgage at least ten (10) days prior to the before any sale or other event for which such notice is requireddisposition of the Accessories. Any such sale Mortgagee may choose to dispose of some or all of the property, in any combination consisting of both Accessories and Property, in one or more public or private sales to be held in accordance with the Law and procedures applicable to real property, as part permitted by Article 9 of and in conjunction the Uniform Commercial Code. Mortgagor agrees that such a sale of Accessories together with any foreclosure Property constitutes a commercially reasonable sale of the other properties and rights constituting the Mortgaged Property in order that the Mortgaged Property, including the Personal Property, may be sold as a single parcel if the Agent electsAccessories. The Borrower hereby agrees that if the Agent demands or attempts to take possession of the Personal Property or any portion thereof in exercise of its rights and remedies hereunder, the Borrower will promptly turn over and deliver possession thereof to the Agent, and the Borrower authorizes, to the extent the Borrower may now or hereafter lawfully grant such authority, the Agent, its employees and agents, and potential bidders or purchasers to enter upon the Premises or any other office, building or property where the Personal Property or any portion thereof may at the time be located (or believed to be located) and the Agent may (i) remove the same therefrom or render the same inoperable (with or without removal from such location); (ii) repair, operate, use or manage the Personal Property or any portion thereof; (iii) maintain, repair or store the Personal Property or any portion thereof; (iv) view, inspect and prepare the Personal Property or any portion thereof for sale, lease or disposition; (v) sell, lease, dispose of or consume the same or bid thereon; or (vi) incorporate the Personal Property or any portion thereof into the Land or the Improvements or Fixtures and sell, convey or transfer the same. The expenses of retaking, selling and otherwise disposing of the Personal Property, including reasonable attorneys’ fees and legal expenses incurred in connection therewith, shall constitute so much additional Debt and shall be payable upon demand with interest at the Default Rate.February-16-2012

Appears in 3 contracts

Sources: Loan Agreement (Cellteck Inc.), Second Consolidated Amendment Agreement (Cellteck Inc.), Consolidated Amendment Agreement (Cellteck Inc.)

Uniform Commercial Code. Agent shall, with respect to the Personal Property, The Lender shall have all of the rights, options rights and remedies of a secured party under the Code, including without limitationapplicable Uniform Commercial Code and other applicable Laws. Upon demand by the Lender, the right Borrower shall assemble the Collateral and make it available to the Lender, at a place designated by the Lender. The Lender or its agents may without notice from time to time enter upon the Borrower's premises to take possession of any such property the Collateral, to remove it, to render it unusable, to process it or any part thereofotherwise prepare it for sale, and the right or to enter with legal process any premises where any such property may be foundsell or otherwise dispose of it. Any requirement of said Code for reasonable notification shall be met by mailing written notice of the sale, disposition or other intended action by the Lender with respect to the Collateral which is sent by regular mail, postage prepaid, to the Borrower at its the address set forth in Section 31 hereof 8.1 (Notices), or such other address of the Borrower which may from time to time be shown on the Lender's records, at least ten (10) days prior to such sale, disposition or other action, shall constitute commercially reasonable notice to the Borrower. The Lender may alternatively or additionally give such notice in any other commercially reasonable manner. Nothing in this Agreement shall require the Lender to give any notice not required by applicable Laws. If any consent, approval, or authorization of any state, municipal or other governmental department, agency or authority or of any person, or any person, corporation, partnership or other entity having any interest therein, should be necessary to effectuate any sale or other event for which disposition of the Collateral, the Borrower agrees to execute all such notice is required. Any such sale applications and other instruments, and to take all other action, as may be held as required in connection with securing any such consent, approval or authorization. The Borrower recognizes that the Lender may be unable to effect a public sale of all or a part of the Collateral consisting of securities by reason of certain prohibitions contained in the Securities Act of 1933, as amended, and other applicable federal and state Laws. The Lender may, therefore, in conjunction its discretion, take such steps as it may deem appropriate to comply with such Laws and may, for example, at any foreclosure sale of the other properties Collateral consisting of securities restrict the prospective bidders or purchasers as to their number, nature of business and rights constituting the Mortgaged Property in order investment intention, including, without limitation, a requirement that the Mortgaged PropertyPersons making such purchases represent and agree to the satisfaction of the Lender that they are purchasing such securities for their account, including for investment, and not with a view to the Personal Property, may be sold as a single parcel if the Agent electsdistribution or resale of any thereof. The Borrower hereby covenants and agrees that if to do or cause to be done promptly all such acts and things as the Agent demands or attempts Lender may request from time to take possession of time and as may be necessary to offer and/or sell the Personal Property securities or any portion part thereof in exercise of its rights a manner which is valid and remedies hereunderbinding and in conformance with all applicable Laws. Upon any such sale or disposition, the Borrower will promptly turn over Lender shall have the right to deliver, assign and deliver possession thereof transfer to the Agent, and purchaser thereof the Borrower authorizes, to the extent the Borrower may now or hereafter lawfully grant such authority, the Agent, its employees and agents, and potential bidders or purchasers to enter upon the Premises or any other office, building or property where the Personal Property or any portion thereof may at the time be located (or believed to be located) and the Agent may (i) remove the same therefrom or render the same inoperable (with or without removal from such location); (ii) repair, operate, use or manage the Personal Property or any portion thereof; (iii) maintain, repair or store the Personal Property or any portion thereof; (iv) view, inspect and prepare the Personal Property or any portion thereof for sale, lease or disposition; (v) sell, lease, dispose Collateral consisting of or consume the same or bid thereon; or (vi) incorporate the Personal Property or any portion thereof into the Land or the Improvements or Fixtures and sell, convey or transfer the same. The expenses of retaking, selling and otherwise disposing of the Personal Property, including reasonable attorneys’ fees and legal expenses incurred in connection therewith, shall constitute securities so much additional Debt and shall be payable upon demand with interest at the Default Ratesold.

Appears in 3 contracts

Sources: Financing and Security Agreement (Sensys Technologies Inc), Financing and Security Agreement (Weston Roy F Inc), Financing and Security Agreement (Halifax Corp)

Uniform Commercial Code. Agent shallMortgagee may exercise any or all of its rights and remedies under the Illinois or California Uniform Commercial Codes as in effect from time to time, with respect (or under the Uniform Commercial Code in force from time to time in any other state to the Personal Propertyextent the same is applicable law) or other applicable law as well as all other rights and remedies possessed by Mortgagee, have all of which shall be cumulative. Mortgagee is hereby authorized and empowered to enter the Property or other place where the Accessories may be located without legal process, and to take possession of the Accessories without notice or demand, which hereby are waived to the maximum extent permitted by the laws of the State of Illinois or California. Upon demand by Mortgagee, Mortgagor shall make the Accessories available to Mortgagee at a place reasonably convenient to Mortgagee. Mortgagee may proceed under the Uniform Commercial Code as to all or any part of the Accessories, and in conjunction therewith may exercise all of the rights, options remedies and remedies powers of a secured party creditor under the Uniform Commercial Code, including without limitation, the right to the possession of any such property or any part thereof, and the right to enter with legal process any premises where any such property may be found. Any requirement of said notification required by the Uniform Commercial Code for reasonable notification shall be met by mailing written notice to Borrower at its address set forth deemed reasonably and properly given if sent in Section 31 hereof accordance with the Notice provisions of this Mortgage at least ten (10) days prior to the before any sale or other event for which such notice is requireddisposition of the Accessories. Any such sale Mortgagee may choose to dispose of some or all of the property, in any combination consisting of both Accessories and Property, in one or more public or private sales to be held in accordance with the Law and procedures applicable to real property, as part permitted by Article 9 of and in conjunction the Uniform Commercial Code. Mortgagor agrees that such a sale of Accessories together with any foreclosure Property constitutes a commercially reasonable sale of the other properties and rights constituting the Mortgaged Property in order that the Mortgaged Property, including the Personal Property, may be sold as a single parcel if the Agent elects. The Borrower hereby agrees that if the Agent demands or attempts to take possession of the Personal Property or any portion thereof in exercise of its rights and remedies hereunder, the Borrower will promptly turn over and deliver possession thereof to the Agent, and the Borrower authorizes, to the extent the Borrower may now or hereafter lawfully grant such authority, the Agent, its employees and agents, and potential bidders or purchasers to enter upon the Premises or any other office, building or property where the Personal Property or any portion thereof may at the time be located (or believed to be located) and the Agent may (i) remove the same therefrom or render the same inoperable (with or without removal from such location); (ii) repair, operate, use or manage the Personal Property or any portion thereof; (iii) maintain, repair or store the Personal Property or any portion thereof; (iv) view, inspect and prepare the Personal Property or any portion thereof for sale, lease or disposition; (v) sell, lease, dispose of or consume the same or bid thereon; or (vi) incorporate the Personal Property or any portion thereof into the Land or the Improvements or Fixtures and sell, convey or transfer the same. The expenses of retaking, selling and otherwise disposing of the Personal Property, including reasonable attorneys’ fees and legal expenses incurred in connection therewith, shall constitute so much additional Debt and shall be payable upon demand with interest at the Default RateAccessories.

Appears in 3 contracts

Sources: Lowcal Agreements (Cellteck Inc.), Leasehold Mortgage, Assignment, Security Agreement and Fixture Filing (Cellteck Inc.), Leasehold Mortgage, Assignment, Security Agreement and Fixture Filing (Cellteck Inc.)

Uniform Commercial Code. Agent shall, with respect to the Personal Property, The Lender shall have all of the rights, options rights and remedies of a secured party under the Code, including without limitationapplicable Uniform Commercial Code and other applicable Laws. Upon demand by the Lender, the right Borrowers shall assemble the Collateral and make it available to the Lender, at a place designated by the Lender. The Lender or its agents may without notice from time to time enter upon any Borrower’s premises to take possession of any such property the Collateral, to remove it, to render it unusable, to process it or any part thereofotherwise prepare it for sale, and the right or to enter with legal process any premises where any such property may be foundsell or otherwise dispose of it. Any requirement of said Code for reasonable notification shall be met by mailing written notice of the sale, disposition or other intended action by the Lender with respect to Borrower the Collateral that is sent by regular mail, postage prepaid, to the Borrowers at its the address set forth in Section 31 hereof 8.1 (Notices), or such other address of the Borrowers that may from time to time be shown on the Lender’s records, at least ten (10) days prior to such sale, disposition or other action, shall constitute commercially reasonable notice to the Borrowers. The Lender may alternatively or additionally give such notice in any other commercially reasonable manner. Nothing in this Agreement shall require the Lender to give any notice not required by applicable Laws. If any consent, approval, or authorization of any state, municipal or other Governmental Authority or of any other Person or of any Person having any interest therein, should be necessary to effectuate any sale or other event for which disposition of the Collateral, the Borrowers agree to execute all such notice is required. Any such sale applications and other instruments, and to take all other action, as may be held as required in connection with securing any such consent, approval or authorization. The Borrowers recognize that the Lender may be unable to effect a public sale of all or a part of the Collateral consisting of Investment Property by reason of certain prohibitions contained in the Securities Act of 1933, as amended, and other applicable Federal and state Laws. The Lender may, therefore, in conjunction its discretion, take such steps as it may deem appropriate to comply with such Laws and may, for example, at any foreclosure sale of the other properties and rights constituting Collateral consisting of securities restrict the Mortgaged Property in order that the Mortgaged Property, including the Personal Property, may be sold as a single parcel if the Agent elects. The Borrower hereby agrees that if the Agent demands or attempts to take possession of the Personal Property or any portion thereof in exercise of its rights and remedies hereunder, the Borrower will promptly turn over and deliver possession thereof to the Agent, and the Borrower authorizes, to the extent the Borrower may now or hereafter lawfully grant such authority, the Agent, its employees and agents, and potential prospective bidders or purchasers as to enter upon their number, nature of business and investment intention, including, without limitation, a requirement that the Premises Persons making such purchases represent and agree to the satisfaction of the Lender that they are purchasing such securities for their account, for investment, and not with a view to the distribution or resale of any thereof. The Borrowers covenant and agree to do or cause to be done promptly all such acts and things as the Lender may request from time to time and as may be necessary to offer and/or sell the securities or any other office, building or property where the Personal Property or part thereof in a manner that is valid and binding and in conformance with all applicable Laws. Upon any portion thereof may at the time be located (or believed to be located) and the Agent may (i) remove the same therefrom or render the same inoperable (with or without removal from such location); (ii) repair, operate, use or manage the Personal Property or any portion thereof; (iii) maintain, repair or store the Personal Property or any portion thereof; (iv) view, inspect and prepare the Personal Property or any portion thereof for sale, lease sale or disposition; (v) sell, leasethe Lender shall have the right to deliver, dispose assign and transfer to the purchaser thereof the Collateral consisting of or consume the same or bid thereon; or (vi) incorporate the Personal Property or any portion thereof into the Land or the Improvements or Fixtures and sell, convey or transfer the same. The expenses of retaking, selling and otherwise disposing of the Personal Property, including reasonable attorneys’ fees and legal expenses incurred in connection therewith, shall constitute securities so much additional Debt and shall be payable upon demand with interest at the Default Ratesold.

Appears in 3 contracts

Sources: Financing and Security Agreement (Tvi Corp), Financing and Security Agreement (Tvi Corp), Financing and Security Agreement (Tvi Corp)

Uniform Commercial Code. Agent shall, Without limitation of Lender’s rights of enforcement with respect to the Personal Property, have all the rights, options and remedies of a secured party under the Code, including without limitation, the right to the possession of any such property Collateral or any part thereofthereof in accordance with the procedures for foreclosure of real estate, Lender may exercise its rights of enforcement with respect to the Collateral or any part thereof under the UCC (or under the Uniform Commercial Code in force in any other state to the extent the same is applicable law) and in conjunction with, in addition to or in substitution for those rights and remedies: (1) Lender may enter upon Grantor’s premises to take possession of, assemble and collect the right Collateral or, to enter with legal process any premises where any such property the extent and for those items of the Collateral permitted under applicable law, to render it unusable; (2) Lender may be found. Any requirement require Grantor to assemble the Collateral and make it available at a place Lender designates which is mutually convenient to allow Lender to take possession or dispose of said Code for reasonable notification shall be met by mailing the Collateral; (3) written notice mailed to Borrower at its address set forth in Section 31 hereof Grantor as provided herein at least ten (10) days prior to the sale or other event for which such notice is required. Any such sale may be held as part date of and in conjunction with any foreclosure public sale of the Collateral or prior to the date after which private sale of the Collateral will be made shall constitute reasonable notice; (4) any sale made pursuant to the provisions of this paragraph shall be deemed to have been a public sale conducted in a commercially reasonable manner if held contemporaneously with and upon the same notice as required for the sale of the Property under power of sale as provided in Section 7.3c hereinabove; (5) in the event of a foreclosure sale, whether made by Trustee under the terms hereof, or under judgment of a court, the Collateral and the other properties and rights constituting Property may, at the Mortgaged Property in order that the Mortgaged Propertyoption of Lender, including the Personal Property, may be sold as a single parcel if the Agent elects. The Borrower hereby agrees whole; (6) it shall not be necessary that if the Agent demands or attempts to Lender take possession of the Personal Property Collateral or any portion part thereof in exercise prior to the time that any sale pursuant to the provisions of its rights this Section is conducted and remedies hereunderit shall not be necessary that the Collateral or any part thereof be present at the location of such sale; (7) with respect to application of proceeds from disposition of the Collateral under Section 7.3c hereinabove, the Borrower will promptly turn over costs and deliver possession thereof expenses incident to disposition shall include the Agent, and the Borrower authorizes, to the extent the Borrower may now or hereafter lawfully grant such authority, the Agent, its employees and agents, and potential bidders or purchasers to enter upon the Premises or any other office, building or property where the Personal Property or any portion thereof may at the time be located (or believed to be located) and the Agent may (i) remove the same therefrom or render the same inoperable (with or without removal from such location); (ii) repair, operate, use or manage the Personal Property or any portion thereof; (iii) maintain, repair or store the Personal Property or any portion thereof; (iv) view, inspect and prepare the Personal Property or any portion thereof for sale, lease or disposition; (v) sell, lease, dispose of or consume the same or bid thereon; or (vi) incorporate the Personal Property or any portion thereof into the Land or the Improvements or Fixtures and sell, convey or transfer the same. The reasonable expenses of retaking, selling holding, preparing for sale or lease, selling, leasing and otherwise disposing of the Personal Property, including like and the reasonable attorneys’ fees and legal expenses incurred by Lender; (8) any and all statements of fact or other recitals made in connection therewithany ▇▇▇▇ of sale or assignment or other instrument evidencing any foreclosure sale hereunder as to nonpayment of the Secured Obligations or as to the occurrence of any default, or as to Lender having declared all of such indebtedness to be due and payable, or as to notice of time, place and terms of sale and of the properties to be sold having been duly given, or as to any other act or thing having been duly done by Lender, shall constitute be taken as prima facie evidence of the truth of the facts so much additional Debt stated and shall DEED OF TRUST (VIRGINIA) ▇▇▇▇▇ Fargo/▇▇▇▇ Properties/Cracker Barrel Loan ▇▇. ▇▇-▇▇▇▇▇▇▇▇/▇▇▇▇▇ ▇▇. ▇▇▇ recited; and (9) Lender may appoint or delegate any one or more persons as agent to perform any act or acts necessary or incident to any sale held by Lender, including the sending of notices and the conduct of the sale, but in the name and on behalf of Lender. In connection with any sale or sales hereunder, Lender may elect to treat any of the Property which consists of a right in action or which is property that can be payable upon demand severed from the Property (including, without limitation, any improvements forming a part thereof) without causing structural damage thereto as if the same were personal property or a fixture, as the case may be, and dispose of the same in accordance with interest at applicable law, separate and apart from the Default Ratesale of the Property.

Appears in 2 contracts

Sources: Deed of Trust, Absolute Assignment of Rents and Leases and Security Agreement (Cole Credit Property Trust III, Inc.), Deed of Trust, Absolute Assignment of Rents and Leases and Security Agreement (Cole Credit Property Trust III, Inc.)

Uniform Commercial Code. Agent shall, with respect to the Personal Property, The Lender shall have all of the rights, options rights and remedies of a secured party under the Code, including without limitationapplicable Uniform Commercial Code and other applicable Laws. Upon demand by the Lender, the right Borrower shall assemble the Collateral and make it available to the Lender, at a place designated by the Lender. The Lender or its agents may without notice from time to time enter upon the Borrower’s premises to take possession of any such property the Collateral, to remove it, to render it unusable, to process it or any part thereofotherwise prepare it for sale, and the right or to enter with legal process any premises where any such property may be foundsell or otherwise dispose of it. Any requirement of said Code for reasonable notification shall be met by mailing written notice of the sale, disposition or other intended action by the Lender with respect to the Collateral which is sent by regular mail, postage prepaid, to the Borrower at its the address set forth in Section 31 hereof the Borrower which may from time to time be shown on the Lender’s records, at least ten (10) days prior to such sale, disposition or other action, shall constitute commercially reasonable notice to the Borrower. The Lender may alternatively or additionally give such notice in any other commercially reasonable manner. Nothing in this Agreement shall require the Lender to give any notice not required by applicable Laws. If any consent, approval, or authorization of any state, municipal or other governmental department, agency or authority or of any person, or any person, corporation, partnership or other entity having any interest therein, should be necessary to effectuate any sale or other event for which disposition of the Collateral, the Borrower agrees to execute all such notice is required. Any such sale applications and other instruments, and to take all other action, as may be held as required in connection with securing any such consent, approval or authorization. The Borrower recognizes that the Lender may be unable to effect a public sale of all or a part of the Collateral consisting of securities by reason of certain prohibitions contained in the Securities Act of 1933, as amended, and other applicable federal and state Laws. The Lender may, therefore, in conjunction its discretion, take such steps as it may deem appropriate to comply with such Laws and may, for example, at any foreclosure sale of the other properties Collateral consisting of securities restrict the prospective bidders or purchasers as to their number, nature of business and rights constituting the Mortgaged Property in order investment intention, including, without limitation, a requirement that the Mortgaged PropertyPersons making such purchases represent and agree to the satisfaction of the Lender that they are purchasing such securities for their account, including for investment, and not with a view to the Personal Property, may be sold as a single parcel if the Agent electsdistribution or resale of any thereof. The Borrower hereby covenants and agrees that if to do or cause to be done promptly all such acts and things as the Agent demands or attempts Lender may request from time to take possession of time and as may be necessary to offer and/or sell the Personal Property securities or any portion part thereof in exercise of its rights a manner which is valid and remedies hereunderbinding and in conformance with all applicable Laws. Upon any such sale or disposition, the Borrower will promptly turn over Lender shall have the right to deliver, assign and deliver possession thereof transfer to the Agent, and purchaser thereof the Borrower authorizes, to the extent the Borrower may now or hereafter lawfully grant such authority, the Agent, its employees and agents, and potential bidders or purchasers to enter upon the Premises or any other office, building or property where the Personal Property or any portion thereof may at the time be located (or believed to be located) and the Agent may (i) remove the same therefrom or render the same inoperable (with or without removal from such location); (ii) repair, operate, use or manage the Personal Property or any portion thereof; (iii) maintain, repair or store the Personal Property or any portion thereof; (iv) view, inspect and prepare the Personal Property or any portion thereof for sale, lease or disposition; (v) sell, lease, dispose Collateral consisting of or consume the same or bid thereon; or (vi) incorporate the Personal Property or any portion thereof into the Land or the Improvements or Fixtures and sell, convey or transfer the same. The expenses of retaking, selling and otherwise disposing of the Personal Property, including reasonable attorneys’ fees and legal expenses incurred in connection therewith, shall constitute securities so much additional Debt and shall be payable upon demand with interest at the Default Ratesold.

Appears in 2 contracts

Sources: Loan and Security Agreement (Celsion Corp), Loan and Security Agreement (Xybernaut Corp)

Uniform Commercial Code. The Administrative Agent shall, with respect to the Personal Property, shall have all of the rights, options rights and remedies of a secured party under the Code, including without limitationapplicable Uniform Commercial Code and other applicable Laws. Upon demand by the Administrative Agent, the right Borrowers shall assemble the Collateral and make it available to the Administrative Agent, at a place reasonably designated in the United States or reasonably designated elsewhere by the Administrative Agent. The Administrative Agent or its agents may without notice from time to time enter upon any Borrower's premises to take possession of any such property the Collateral, to remove it, to render it unusable, to process it or any part thereofotherwise prepare it for sale, and the right or to enter with legal process any premises where any such property may be foundsell or otherwise dispose of it. Any requirement of said Code for reasonable notification shall be met by mailing written notice of the sale, disposition or other intended action by the Administrative Agent with respect to Borrower the Collateral which is sent by regular mail, postage prepaid, to the Borrowers at its the address set forth in Section 31 hereof 9.1 (Notices), or such other address of the Borrowers which may from time to time be shown on the Administrative Agent's records, at least ten (10) days prior to such sale, disposition or other action, shall constitute commercially reasonable notice to the Borrowers. The Administrative Agent may alternatively or additionally give such notice in any other commercially reasonable manner. Nothing in this Agreement shall require the Administrative Agent to give any notice not required by applicable Laws. If any consent, approval, or authorization of any state, municipal or other Governmental Authority or of any other Person or of any Person having any interest therein, should be necessary to effectuate any sale or other event for which disposition of the Collateral, the Borrowers agree to execute all such notice is required. Any such sale applications and other instruments, and to take all other action, as reasonably may be held as required in connection with securing any such consent, approval or authorization. The Borrowers recognize that the Administrative Agent may be unable to effect a public sale of all or a part of the Collateral consisting of Subsidiary Securities by reason of certain prohibitions contained in the Securities Act of 1933, as amended, and other applicable Federal and state Laws. The Administrative Agent may, therefore, in conjunction its discretion, take such steps as it may deem appropriate to comply with such Laws and may, for example, at any foreclosure sale of the other properties and rights constituting Collateral consisting of securities restrict the Mortgaged Property in order that the Mortgaged Property, including the Personal Property, may be sold as a single parcel if the Agent elects. The Borrower hereby agrees that if the Agent demands or attempts to take possession of the Personal Property or any portion thereof in exercise of its rights and remedies hereunder, the Borrower will promptly turn over and deliver possession thereof to the Agent, and the Borrower authorizes, to the extent the Borrower may now or hereafter lawfully grant such authority, the Agent, its employees and agents, and potential prospective bidders or purchasers as to enter upon their number, nature of business and investment intention, including, without limitation, a requirement that the Premises Persons making such purchases represent and agree to the satisfaction of the Administrative Agent that they are purchasing such securities for their account, for investment, and not with a view to the distribution or resale of any thereof. The Borrowers covenant and agree to do or cause to be done promptly all such acts and things as the Administrative Agent reasonably may request from time to time and as may be necessary to offer and/or sell the securities or any other office, building or property where the Personal Property or part thereof in a manner which is valid and binding and in conformance with all applicable Laws. Upon any portion thereof may at the time be located (or believed to be located) and the Agent may (i) remove the same therefrom or render the same inoperable (with or without removal from such location); (ii) repair, operate, use or manage the Personal Property or any portion thereof; (iii) maintain, repair or store the Personal Property or any portion thereof; (iv) view, inspect and prepare the Personal Property or any portion thereof for sale, lease sale or disposition; (v) sell, leasethe Administrative Agent shall have the right to deliver, dispose assign and transfer to the purchaser thereof the Collateral consisting of or consume the same or bid thereon; or (vi) incorporate the Personal Property or any portion thereof into the Land or the Improvements or Fixtures and sell, convey or transfer the same. The expenses of retaking, selling and otherwise disposing of the Personal Property, including reasonable attorneys’ fees and legal expenses incurred in connection therewith, shall constitute securities so much additional Debt and shall be payable upon demand with interest at the Default Ratesold.

Appears in 2 contracts

Sources: Financing and Security Agreement (Walbro Corp), Financing and Security Agreement (Walbro Corp)

Uniform Commercial Code. Agent shall, with respect to the Personal Property, (a) Lender shall have all of the rights, options rights and remedies of a secured party under the CodeCode as well as all other rights and remedies available at law or in equity. (b) ▇▇▇▇▇▇▇▇ agrees to deliver to Lender any financing statements, including without limitationas well as extensions, the right renewals and amendments thereof, and to execute and deliver to Lender any reproductions of this Deed of Trust in such form as Lender may require to perfect a security interest with respect to the possession Personal Property. ▇▇▇▇▇▇▇▇ hereby authorizes and empowers ▇▇▇▇▇▇ and irrevocably appoints Lender its agent and attorney-in-fact to file, on ▇▇▇▇▇▇▇▇’s behalf, all financing statements and refilings and continuations thereof as Lender deems necessary or advisable to create, preserve and protect such lien, which financing statements may describe the collateral as “all assets” of the debtor or words of similar effect. Borrower shall pay all costs of filing such financing statements and any extensions, renewals, amendments and releases thereof, and shall pay all reasonable costs and expenses of any record searches for financing statements as Lender may reasonably require. (c) Except as permitted pursuant to the Loan Agreement, Borrower shall not, without the prior written consent of Lender, sell, assign, transfer, encumber, remove or permit to be removed from the Premises any of the Personal Property. Notwithstanding the foregoing, so long as no Event of Default has occurred and is continuing, Borrower may sell or otherwise dispose of any Personal Property when obsolete, worn out, inadequate, unserviceable or unnecessary for use in the operation of the Premises, but only upon replacing the same with other Personal Property at least equal in value and utility to the disposed Personal Property. Any replacement or substituted Personal Property shall be subject to the security interest granted herein. (d) To the extent permitted by law, ▇▇▇▇▇▇▇▇ and ▇▇▇▇▇▇ agree that with respect to all items of Personal Property which are or will become fixtures on the Land, this Deed of Trust, upon recording or registration in the real estate records of the proper office, shall constitute a “fixture filing” within the meaning of Sections 9501(a)(1) and 9502(b) and (c) of the Code. ▇▇▇▇▇▇▇▇ is the record owner of the Land. (e) Upon the occurrence and during the continuance of an Event of Default under this Deed of Trust, Lender, pursuant to the appropriate provisions of the Code and subject to other applicable provisions of California law, shall have an option to proceed with respect to both the real property portion of the interest of Borrower in the Premises and the Personal Property in accordance with its rights, powers and remedies with respect to such property real property, in which event the default provisions of the Code shall not apply. Such option shall be revocable by ▇▇▇▇▇▇ as to all or any portion of the Personal Property at any time prior to the sale of the remainder of the interest of Borrower in the Premises. In such event Lender shall designate Trustee to conduct the sale of the Personal Property in combination with the sale of the remainder of the interest of Borrower in the Premises. Should Lender elect to sell the Personal Property or any part thereof, and the right thereof which is real property or which ▇▇▇▇▇▇ has elected to enter with legal process any premises where any such treat as real property or which may be foundsold together with the real property as provided above, Lender or Trustee shall give such notice of default and election to sell as may then be required by law. Any requirement The parties agree that if Lender shall elect to proceed with respect to any portion of said Code for reasonable notification shall be met by mailing written notice to Borrower at its address set forth in Section 31 hereof at least the Personal Property separately from such real property, ten (10) days prior to notice of the sale or other event for which such notice is required. Any such sale may be held as part of and in conjunction with any foreclosure sale of the other properties and rights constituting the Mortgaged Property in order that the Mortgaged Property, including the Personal Property, may be sold as a single parcel if the Agent elects. The Borrower hereby agrees that if the Agent demands or attempts to take possession of the Personal Property or any portion thereof in exercise of its rights and remedies hereunder, the Borrower will promptly turn over and deliver possession thereof to the Agent, and the Borrower authorizes, to the extent the Borrower may now or hereafter lawfully grant such authority, the Agent, its employees and agents, and potential bidders or purchasers to enter upon the Premises or any other office, building or property where the Personal Property or any portion thereof may at the time shall be located (or believed to be located) and the Agent may (i) remove the same therefrom or render the same inoperable (with or without removal from such location); (ii) repair, operate, use or manage the Personal Property or any portion thereof; (iii) maintain, repair or store the Personal Property or any portion thereof; (iv) view, inspect and prepare the Personal Property or any portion thereof for sale, lease or disposition; (v) sell, lease, dispose of or consume the same or bid thereon; or (vi) incorporate the Personal Property or any portion thereof into the Land or the Improvements or Fixtures and sell, convey or transfer the samereasonable notice. The reasonable expenses of retaking, holding, preparing for sale, selling and otherwise disposing of the Personal Propertylike incurred by ▇▇▇▇▇▇ shall include, including but not be limited to, reasonable attorneys’ fees fees, costs and legal expenses, and other expenses incurred in connection therewith, shall constitute so much additional Debt and shall be payable upon demand with interest at the Default Rateby ▇▇▇▇▇▇.

Appears in 2 contracts

Sources: Deed of Trust (Kilroy Realty, L.P.), Deed of Trust (Kilroy Realty, L.P.)

Uniform Commercial Code. Agent shallMortgagee may exercise any or all of its rights and remedies under the New Jersey Uniform Commercial Code as in effect from time to time, with respect (or under the Uniform Commercial Code in force from time to time in any other state to the Personal Propertyextent the same is applicable law) or other applicable law as well as all other rights and remedies possessed by Mortgagee, have all of which shall be cumulative. Mortgagee is hereby authorized and empowered to enter the Property or other place where the Accessories may be located without legal process, and to take possession of the Accessories without notice or demand, which hereby are waived to the maximum extent permitted by the laws of the State of New Jersey. Upon demand by Mortgagee, Mortgagor shall make the Accessories available to Mortgagee at a place reasonably convenient to Mortgagee. Mortgagee may proceed under the Uniform Commercial Code as to all or any part of the Accessories, and in conjunction therewith may exercise all of the rights, options remedies and remedies powers of a secured party creditor under the Uniform Commercial Code, including without limitation, the right to the possession of any such property or any part thereof, and the right to enter with legal process any premises where any such property may be found. Any requirement of said notification required by the Uniform Commercial Code for reasonable notification shall be met by mailing written notice to Borrower at its address set forth deemed reasonably and properly given if sent in Section 31 hereof accordance with the Notice provisions of this Mortgage at least ten (10) days prior to the before any sale or other event for which such notice is requireddisposition of the Accessories. Any such sale Mortgagee may choose to dispose of some or all of the property, in any combination consisting of both Accessories and Property, in one or more public or private sales to be held in accordance with the Law and procedures applicable to real property, as part permitted by Article 9 of and in conjunction the Uniform Commercial Code. Mortgagor agrees that such a sale of Accessories together with any foreclosure Property constitutes a commercially reasonable sale of the other properties and rights constituting the Mortgaged Property in order that the Mortgaged Property, including the Personal Property, may be sold as a single parcel if the Agent elects. The Borrower hereby agrees that if the Agent demands or attempts to take possession of the Personal Property or any portion thereof in exercise of its rights and remedies hereunder, the Borrower will promptly turn over and deliver possession thereof to the Agent, and the Borrower authorizes, to the extent the Borrower may now or hereafter lawfully grant such authority, the Agent, its employees and agents, and potential bidders or purchasers to enter upon the Premises or any other office, building or property where the Personal Property or any portion thereof may at the time be located (or believed to be located) and the Agent may (i) remove the same therefrom or render the same inoperable (with or without removal from such location); (ii) repair, operate, use or manage the Personal Property or any portion thereof; (iii) maintain, repair or store the Personal Property or any portion thereof; (iv) view, inspect and prepare the Personal Property or any portion thereof for sale, lease or disposition; (v) sell, lease, dispose of or consume the same or bid thereon; or (vi) incorporate the Personal Property or any portion thereof into the Land or the Improvements or Fixtures and sell, convey or transfer the same. The expenses of retaking, selling and otherwise disposing of the Personal Property, including reasonable attorneys’ fees and legal expenses incurred in connection therewith, shall constitute so much additional Debt and shall be payable upon demand with interest at the Default RateAccessories.

Appears in 2 contracts

Sources: Leasehold Mortgage, Assignment, Security Agreement and Fixture Filing (Compx International Inc), Leasehold Mortgage, Assignment, Security Agreement and Fixture Filing (Nl Industries Inc)

Uniform Commercial Code. Agent shallMortgagee may exercise any or all of its rights and remedies under the Illinois Uniform Commercial Code as in effect from time to time, with respect (or under the Uniform Commercial Code in force from time to time in any other state to the Personal Propertyextent the same is applicable law) or other applicable law as well as all other rights and remedies possessed by Mortgagee, have all of which shall be cumulative. Mortgagee is hereby authorized and empowered to enter the Property or other place where the Accessories may be located without legal process, and to take possession of the Accessories without notice or demand, which hereby are waived to the maximum extent permitted by the laws of the State of Illinois. Upon demand by Mortgagee, Mortgagor shall make the Accessories available to Mortgagee at a place reasonably convenient to Mortgagee. Mortgagee may proceed under the Uniform Commercial Code as to all or any part of the Accessories, and in conjunction therewith may exercise all of the rights, options remedies and remedies powers of a secured party creditor under the Uniform Commercial Code, including without limitation, the right to the possession of any such property or any part thereof, and the right to enter with legal process any premises where any such property may be found. Any requirement of said notification required by the Uniform Commercial Code for reasonable notification shall be met by mailing written notice to Borrower at its address set forth deemed reasonably and properly given if sent in Section 31 hereof accordance with the Notice provisions of this Mortgage at least ten (10) days prior to the before any sale or other event for which such notice is requireddisposition of the Accessories. Any such sale Mortgagee may choose to dispose of some or all of the property, in any combination consisting of both Accessories and Property, in one or more public or private sales to be held in accordance with the Law and procedures applicable to real property, as part permitted by Article 9 of and in conjunction the Uniform Commercial Code. Mortgagor agrees that such a sale of Accessories together with any foreclosure Property constitutes a commercially reasonable sale of the other properties and rights constituting the Mortgaged Property in order that the Mortgaged Property, including the Personal Property, may be sold as a single parcel if the Agent elects. The Borrower hereby agrees that if the Agent demands or attempts to take possession of the Personal Property or any portion thereof in exercise of its rights and remedies hereunder, the Borrower will promptly turn over and deliver possession thereof to the Agent, and the Borrower authorizes, to the extent the Borrower may now or hereafter lawfully grant such authority, the Agent, its employees and agents, and potential bidders or purchasers to enter upon the Premises or any other office, building or property where the Personal Property or any portion thereof may at the time be located (or believed to be located) and the Agent may (i) remove the same therefrom or render the same inoperable (with or without removal from such location); (ii) repair, operate, use or manage the Personal Property or any portion thereof; (iii) maintain, repair or store the Personal Property or any portion thereof; (iv) view, inspect and prepare the Personal Property or any portion thereof for sale, lease or disposition; (v) sell, lease, dispose of or consume the same or bid thereon; or (vi) incorporate the Personal Property or any portion thereof into the Land or the Improvements or Fixtures and sell, convey or transfer the same. The expenses of retaking, selling and otherwise disposing of the Personal Property, including reasonable attorneys’ fees and legal expenses incurred in connection therewith, shall constitute so much additional Debt and shall be payable upon demand with interest at the Default RateAccessories.

Appears in 2 contracts

Sources: Leasehold Mortgage, Assignment, Security Agreement and Fixture Filing (Cellteck Inc.), Oil & Gas Services Agreement, Warrant to Purchase Common Stock, Loan Agreement and Secured Promissory Note, Leasehold Mortgage, Assignment, Security Agreement and Fixture Filing (Cellteck Inc.)

Uniform Commercial Code. Agent shall, with respect to the Personal Property, Lender shall have all of the rights, options rights and remedies of a secured party under the CodeUCC. Upon demand by Lender, including Borrower shall assemble the UCC Collateral and make it available to Lender, at a place designated by Lender. Lender or its agents may without limitationnotice from time to time enter upon Borrower’s premises to take possession of the UCC Collateral, to remove it, to render it unusable, to process it or otherwise prepare it for sale, or to sell or otherwise dispose of it. Any written notice of the right sale, disposition or other intended action by Lender with respect to the possession of any such property or any part thereofUCC Collateral which is sent by regular mail, and the right to enter with legal process any premises where any such property may be found. Any requirement of said Code for reasonable notification shall be met by mailing written notice postage prepaid, to Borrower at its the address set forth in Section 31 hereof of Borrower which may from time to time be shown on Lender’s records, at least ten (10) days prior to the such sale, disposition or other action, shall constitute commercially reasonable notice to Borrower. Lender may alternatively or additionally give such notice in any other commercially reasonable manner. Nothing in this Security Instrument shall require Lender to give any notice not required by applicable laws. If any consent, approval, or authorization of any state, municipal or other governmental department, agency or authority or of any person, or any person, corporation, partnership or other entity having any interest therein, should be necessary to effectuate any sale or other event for which disposition of the UCC Collateral, Borrower agrees to execute all such notice is required. Any such sale applications and other instruments, and to take all other action, as may be held as required in connection with securing any such consent, approval or authorization. Borrower recognizes that Lender may be unable to effect a public sale of all or a part of the UCC Collateral consisting of securities by reason of certain prohibitions contained in the Securities Act of 1933, as amended (the “1933 Act”), and other applicable federal and state laws. Lender may, therefore, in conjunction its discretion, take such steps as it may deem appropriate to comply with such laws and may, for example, at any foreclosure sale of the other properties and rights constituting UCC Collateral consisting of securities restrict the Mortgaged Property in order that the Mortgaged Property, including the Personal Property, may be sold as a single parcel if the Agent elects. The Borrower hereby agrees that if the Agent demands or attempts to take possession of the Personal Property or any portion thereof in exercise of its rights and remedies hereunder, the Borrower will promptly turn over and deliver possession thereof to the Agent, and the Borrower authorizes, to the extent the Borrower may now or hereafter lawfully grant such authority, the Agent, its employees and agents, and potential prospective bidders or purchasers as to enter upon their number, nature of business and investment intention, including, without limitation, a requirement that the Premises Persons making such purchases represent and agree to the satisfaction of Lender that they are purchasing such securities for their account, for investment, and not with a view to the distribution or resale of any thereof. Borrower covenants and agrees to do or cause to be done promptly all such acts and things as Lender may request from time to time and as may be necessary to offer and/or sell the securities or any other office, building or property where the Personal Property or part thereof in a manner which is valid and binding and in conformance with all applicable laws. Upon any portion thereof may at the time be located (or believed to be located) and the Agent may (i) remove the same therefrom or render the same inoperable (with or without removal from such location); (ii) repair, operate, use or manage the Personal Property or any portion thereof; (iii) maintain, repair or store the Personal Property or any portion thereof; (iv) view, inspect and prepare the Personal Property or any portion thereof for sale, lease sale or disposition; (v) sell, leaseLender shall have the right to deliver, dispose assign and transfer to the purchaser thereof the UCC Collateral consisting of or consume the same or bid thereon; or (vi) incorporate the Personal Property or any portion thereof into the Land or the Improvements or Fixtures and sell, convey or transfer the same. The expenses of retaking, selling and otherwise disposing of the Personal Property, including reasonable attorneys’ fees and legal expenses incurred in connection therewith, shall constitute securities so much additional Debt and shall be payable upon demand with interest at the Default Ratesold.

Appears in 2 contracts

Sources: Mortgage and Security Agreement, Mortgage and Security Agreement (CNL Healthcare Trust, Inc.)

Uniform Commercial Code. Agent shall, with respect to the Personal Property, Lender shall have all of the rights, options rights and remedies of a secured party under the Codeapplicable Uniform Commercial Code and other applicable Laws. Upon demand by Lender, including Debtor shall assemble the Collateral and make it available to Lender, at a place designated by Lender. Lender or its agents may without limitationnotice from time to time enter upon Debtor’s premises to take possession of the Collateral, to remove it, to render it unusable, to process it or otherwise prepare it for sale, or to sell or otherwise dispose of it. Any written notice of the right sale, disposition or other intended action by Lender with respect to the possession of any such property or any part thereofCollateral which is sent by regular mail, and postage prepaid, to Debtor at the right to enter with legal process any premises where any such property may be found. Any requirement of said Code for reasonable notification shall be met by mailing written notice to Borrower at its address set forth in Section 31 hereof 7.1 (Notices), or such other address of Debtor which may from time to time be shown on Lender’s records, at least ten (10) days prior to the such sale, disposition or other action, shall constitute commercially reasonable notice to Debtor. Lender may alternatively or additionally give such notice in any other commercially reasonable manner. Nothing in this Agreement shall require Lender to give any notice not required by applicable Laws. If any consent, approval, or authorization of any state, municipal or other Governmental Authority or of any other Person or of any Person having any interest therein, should be necessary to effectuate any sale or other event for which disposition of the Collateral, Debtor agrees to execute all such notice is required. Any such sale applications and other instruments, and to take all other action, as may be held as required in connection with securing any such consent, approval or authorization. Debtor recognizes that Lender may be unable to effect a public sale of all or a part of the Collateral consisting of Investment Property by reason of certain prohibitions contained in the Securities Act of 1933, as amended, and other applicable Federal and state Laws. Lender may, therefore, in conjunction its discretion, take such steps as it may deem appropriate to comply with such Laws and may, for example, at any foreclosure sale of the other properties and rights constituting Collateral consisting of securities restrict the Mortgaged Property in order that the Mortgaged Property, including the Personal Property, may be sold as a single parcel if the Agent elects. The Borrower hereby agrees that if the Agent demands or attempts to take possession of the Personal Property or any portion thereof in exercise of its rights and remedies hereunder, the Borrower will promptly turn over and deliver possession thereof to the Agent, and the Borrower authorizes, to the extent the Borrower may now or hereafter lawfully grant such authority, the Agent, its employees and agents, and potential prospective bidders or purchasers as to enter upon their number, nature of business and investment intention, including, without limitation, a requirement that the Premises Persons making such purchases represent and agree to the satisfaction of Lender that they are purchasing such securities for their account, for investment, and not with a view to the distribution or resale of any thereof. Debtor covenants and agrees to do or cause to be done promptly all such acts and things as Lender may request from time to time and as may be necessary to offer and/or sell the securities or any other office, building or property where the Personal Property or part thereof in a manner which is valid and binding and in conformance with all applicable Laws. Upon any portion thereof may at the time be located (or believed to be located) and the Agent may (i) remove the same therefrom or render the same inoperable (with or without removal from such location); (ii) repair, operate, use or manage the Personal Property or any portion thereof; (iii) maintain, repair or store the Personal Property or any portion thereof; (iv) view, inspect and prepare the Personal Property or any portion thereof for sale, lease sale or disposition; (v) sell, leaseLender shall have the right to deliver, dispose assign and transfer to the purchaser thereof the Collateral consisting of or consume the same or bid thereon; or (vi) incorporate the Personal Property or any portion thereof into the Land or the Improvements or Fixtures and sell, convey or transfer the same. The expenses of retaking, selling and otherwise disposing of the Personal Property, including reasonable attorneys’ fees and legal expenses incurred in connection therewith, shall constitute securities so much additional Debt and shall be payable upon demand with interest at the Default Ratesold.

Appears in 2 contracts

Sources: Security Agreement (Liquidity Services Inc), Security Agreement (Liquidity Services Inc)

Uniform Commercial Code. Agent shall, with respect to the Personal Property, The Lender shall have all of the rights, options rights and remedies of a secured party under the Code, including without limitationapplicable Uniform Commercial Code and other applicable Laws. Upon demand by the Lender, the right Borrowers shall assemble the Collateral and make it available to the Lender, at a place designated by the Lender. The Lender or its agents may without notice from time to time enter upon any Borrower’s premises to take possession of any such property the Collateral, to remove it, to render it unusable, to process it or any part thereofotherwise prepare it for sale, and the right or to enter with legal process any premises where any such property may be foundsell or otherwise dispose of it. Any requirement of said Code for reasonable notification shall be met by mailing written notice of the sale, disposition or other intended action by the Lender with respect to Borrower the Collateral which is sent by regular mail, postage prepaid, to the Borrowers at its the address set forth in Section 31 hereof 8.1 (Notices), or such other address of the Borrowers which may from time to time be shown on the Lender’s records, at least ten (10) days prior to such sale, disposition or other action, shall constitute commercially reasonable notice to the Borrowers. The Lender may alternatively or additionally give such notice in any other commercially reasonable manner. Nothing in this Agreement shall require the Lender to give any notice not required by applicable Laws. If any consent, approval, or authorization of any state, municipal or other Governmental Authority or of any other Person or of any Person having any interest therein, should be necessary to effectuate any sale or other event for which disposition of the Collateral, the Borrowers agree to execute all such notice is required. Any such sale applications and other instruments, and to take all other action, as may be held as required in connection with securing any such consent, approval or authorization. The Borrowers recognize that the Lender may be unable to effect a public sale of all or a part of the Collateral consisting of Investment Property by reason of certain prohibitions contained in the Securities Act of 1933, as amended, and other applicable Federal and state Laws. The Lender may, therefore, in conjunction its discretion, take such steps as it may deem appropriate to comply with such Laws and may, for example, at any foreclosure sale of the other properties and rights constituting Collateral consisting of securities restrict the Mortgaged Property in order that the Mortgaged Property, including the Personal Property, may be sold as a single parcel if the Agent elects. The Borrower hereby agrees that if the Agent demands or attempts to take possession of the Personal Property or any portion thereof in exercise of its rights and remedies hereunder, the Borrower will promptly turn over and deliver possession thereof to the Agent, and the Borrower authorizes, to the extent the Borrower may now or hereafter lawfully grant such authority, the Agent, its employees and agents, and potential prospective bidders or purchasers as to enter upon their number, nature of business and investment intention, including, without limitation, a requirement that the Premises Persons making such purchases represent and agree to the satisfaction of the Lender that they are purchasing such securities for their account, for investment, and not with a view to the distribution or resale of any thereof. The Borrowers covenant and agree to do or cause to be done promptly all such acts and things as the Lender may request from time to time and as may be necessary to offer and/or sell the securities or any other office, building or property where the Personal Property or part thereof in a manner which is valid and binding and in conformance with all applicable Laws. Upon any portion thereof may at the time be located (or believed to be located) and the Agent may (i) remove the same therefrom or render the same inoperable (with or without removal from such location); (ii) repair, operate, use or manage the Personal Property or any portion thereof; (iii) maintain, repair or store the Personal Property or any portion thereof; (iv) view, inspect and prepare the Personal Property or any portion thereof for sale, lease sale or disposition; (v) sell, leasethe Lender shall have the right to deliver, dispose assign and transfer to the purchaser thereof the Collateral consisting of or consume the same or bid thereon; or (vi) incorporate the Personal Property or any portion thereof into the Land or the Improvements or Fixtures and sell, convey or transfer the same. The expenses of retaking, selling and otherwise disposing of the Personal Property, including reasonable attorneys’ fees and legal expenses incurred in connection therewith, shall constitute securities so much additional Debt and shall be payable upon demand with interest at the Default Ratesold.

Appears in 2 contracts

Sources: Financing and Security Agreement (Argan Inc), Financing and Security Agreement (Versar Inc)

Uniform Commercial Code. The Agent shall, with respect to the Personal Property, shall have all of the rights, options rights and remedies of a secured party under the Code, including without limitationapplicable Uniform Commercial Code and other applicable Laws. Upon demand by the Agent, the right Borrower shall assemble the Collateral and make it available to the Agent, at a place designated by the Agent. The Agent or its agents may without notice from time to time enter upon the Borrower’s premises to take possession of any such property the Collateral, to remove it, to render it unusable, to process it or any part thereofotherwise prepare it for sale, and the right or to enter with legal process any premises where any such property may be foundsell or otherwise dispose of it. Any requirement of said Code for reasonable notification shall be met by mailing written notice of the sale, disposition or other intended action by the Agent with respect to the Collateral that is sent by regular mail, postage prepaid, to the Borrower at its the address set forth in Section 31 hereof 9.1 (Notices), or such other address of the Borrower that may from time to time be shown on the Agent’s records, at least ten (10) days prior to such sale, disposition or other action, shall constitute commercially reasonable notice to the Borrower. The Agent may alternatively or additionally give such notice in any other commercially reasonable manner. Nothing in this Agreement shall require the Agent to give any notice not required by applicable Laws. If any consent, approval, or authorization of any state, municipal or other Governmental Authority or of any other Person or of any Person having any interest therein, should be necessary to effectuate any sale or other event for which disposition of the Collateral, the Borrower agrees to execute all such notice is required. Any such sale applications and other instruments, and to take all other action, as may be held as required in connection with securing any such consent, approval or authorization. The Borrower recognizes that the Agent may be unable to effect a public sale of all or a part of the Collateral consisting of investment property by reason of certain prohibitions contained in the Securities Act of 1933, as amended, and other applicable Federal and state Laws. The Agent may, therefore, in conjunction its discretion, take such steps as it may deem appropriate to comply with such Laws and may, for example, at any foreclosure sale of the other properties Collateral consisting of securities restrict the prospective bidders or purchasers as to their number, nature of business and rights constituting the Mortgaged Property in order investment intention, including, without limitation, a requirement that the Mortgaged Property, including Persons making such purchases represent and agree to the Personal Property, may be sold as a single parcel if satisfaction of the Agent electsthat they are purchasing such securities for their account, for investment, and not with a view to the distribution or resale of any thereof. The Borrower hereby covenants and agrees that if the Agent demands to do or attempts to take possession of the Personal Property or any portion thereof in exercise of its rights and remedies hereunder, the Borrower will promptly turn over and deliver possession thereof to the Agent, and the Borrower authorizes, to the extent the Borrower may now or hereafter lawfully grant such authority, the Agent, its employees and agents, and potential bidders or purchasers to enter upon the Premises or any other office, building or property where the Personal Property or any portion thereof may at the time be located (or believed cause to be located) done promptly all such acts and things as the Agent may (i) remove request from time to time and as may be necessary to offer and/or sell the same therefrom or render the same inoperable (with or without removal from such location); (ii) repair, operate, use or manage the Personal Property securities or any portion thereof; (iii) maintain, repair or store the Personal Property or part thereof in a manner that is valid and binding and in conformance with all applicable Laws. Upon any portion thereof; (iv) view, inspect and prepare the Personal Property or any portion thereof for sale, lease such sale or disposition; (v) sell, leasethe Agent shall have the right to deliver, dispose assign and transfer to the purchaser thereof the Collateral consisting of or consume the same or bid thereon; or (vi) incorporate the Personal Property or any portion thereof into the Land or the Improvements or Fixtures and sell, convey or transfer the same. The expenses of retaking, selling and otherwise disposing of the Personal Property, including reasonable attorneys’ fees and legal expenses incurred in connection therewith, shall constitute securities so much additional Debt and shall be payable upon demand with interest at the Default Ratesold.

Appears in 2 contracts

Sources: Financing and Security Agreement (Dcap Group Inc), Financing and Security Agreement (Dcap Group Inc)

Uniform Commercial Code. Agent shall, with respect to the Personal Property, The Lender shall have all of the rights, options rights and remedies of a secured party under the Code, including without limitationapplicable Uniform Commercial Code and other applicable Laws. Upon demand by the Lender, the right Borrowers shall assemble the Collateral and make it available to the Lender, at a place designated by the Lender. The Lender or its agents may without notice from time to time enter upon any Borrower's premises to take possession of any such property the Collateral, to remove it, to render it unusable, to process it or any part thereofotherwise prepare it for sale, and the right or to enter with legal process any premises where any such property may be foundsell or otherwise dispose of it. Any requirement of said Code for reasonable notification shall be met by mailing written notice of the sale, disposition or other intended action by the Lender with respect to Borrower the Collateral which is sent by regular mail, postage prepaid, to the Borrowers at its the address set forth in Section 31 hereof 8.1 of this Agreement, or such other address of the Borrowers which may from time to time be shown on the Lender's records, at least ten (10) days prior to such sale, disposition or other action, shall constitute commercially reasonable notice to the Borrowers. The Lender may alternatively or additionally give such notice in any other commercially reasonable manner. Nothing in this Agreement shall require the Lender to give any notice not required by applicable Laws. If any consent, approval, or authorization of any state, municipal or other governmental department, agency or authority or of any person, or any person, corporation, partnership or other entity having any interest therein, should be necessary to effectuate any sale or other event for which disposition of the Collateral, the Borrowers agree to execute all such notice is required. Any such sale applications and other instruments, and to take all other action, as may be held as required in connection with securing any such consent, approval or authorization. The Borrowers recognize that the Lender may be unable to effect a public sale of all or a part of the Collateral consisting of securities by reason of certain prohibitions contained in the Securities Act of 1933, as amended, and other applicable federal and state Laws. The Lender may, therefore, in conjunction its discretion, take such steps as it may deem appropriate to comply with such Laws and may, for example, at any foreclosure sale of the other properties and rights constituting Collateral consisting of securities restrict the Mortgaged Property in order that the Mortgaged Property, including the Personal Property, may be sold as a single parcel if the Agent elects. The Borrower hereby agrees that if the Agent demands or attempts to take possession of the Personal Property or any portion thereof in exercise of its rights and remedies hereunder, the Borrower will promptly turn over and deliver possession thereof to the Agent, and the Borrower authorizes, to the extent the Borrower may now or hereafter lawfully grant such authority, the Agent, its employees and agents, and potential prospective bidders or purchasers as to enter upon their number, nature of business and investment intention, including, without limitation, a requirement that the Premises Persons making such purchases represent and agree to the satisfaction of the Lender that they are purchasing such securities for their account, for investment, and not with a view to the distribution or resale of any thereof. The Borrowers covenant and agree to do or cause to be done promptly all such acts and things as the Lender may request from time to time and as may be necessary to offer and/or sell the securities or any other office, building or property where the Personal Property or part thereof in a manner which is valid and binding and in conformance with all applicable Laws. Upon any portion thereof may at the time be located (or believed to be located) and the Agent may (i) remove the same therefrom or render the same inoperable (with or without removal from such location); (ii) repair, operate, use or manage the Personal Property or any portion thereof; (iii) maintain, repair or store the Personal Property or any portion thereof; (iv) view, inspect and prepare the Personal Property or any portion thereof for sale, lease sale or disposition; (v) sell, leasethe Lender shall have the right to deliver, dispose assign and transfer to the purchaser thereof the Collateral consisting of or consume the same or bid thereon; or (vi) incorporate the Personal Property or any portion thereof into the Land or the Improvements or Fixtures and sell, convey or transfer the same. The expenses of retaking, selling and otherwise disposing of the Personal Property, including reasonable attorneys’ fees and legal expenses incurred in connection therewith, shall constitute securities so much additional Debt and shall be payable upon demand with interest at the Default Ratesold.

Appears in 1 contract

Sources: Financing and Security Agreement (Flanders Corp)

Uniform Commercial Code. Agent shall, with respect to the Personal Property, shall have all of the rights, options rights and remedies of a secured party under the Codeapplicable Uniform Commercial Code and other applicable Laws. Upon demand by Agent, including Borrower shall assemble the Collateral and make it available to Agent, at a place designated by Agent. Agent or its agents may without limitationnotice from time to time enter upon Borrower’s premises to take possession of the Collateral, to remove it, to render it unusable, to process it or otherwise prepare it for sale, or to sell or otherwise dispose of it. Any written notice of the right sale, disposition or other intended action by Agent with respect to the possession of any such property or any part thereofCollateral which is sent by regular mail, and the right to enter with legal process any premises where any such property may be found. Any requirement of said Code for reasonable notification shall be met by mailing written notice postage prepaid, to Borrower at its the address set forth in Section 31 hereof 12.1 (Notices), or such other address of Borrower which may from time to time be shown on Agent’s records, at least ten (10) days prior to the such sale, disposition or other action, shall constitute commercially reasonable notice to Borrower. Agent may alternatively or additionally give such notice in any other commercially reasonable manner. Nothing in this Agreement shall require Agent to give any notice not required by applicable Laws. If any consent, approval, or authorization of any state, municipal or other Governmental Authority or of any other Person or of any Person having any interest therein, should be necessary to effectuate any sale or other event for which disposition of the Collateral, Borrower agrees to execute all such notice is required. Any such sale applications and other instruments, and to take all other action, as may be held as required in connection with securing any such consent, approval or authorization. Borrower recognizes that Agent may be unable to effect a public sale of all or a part of the Collateral consisting of Investment Property by reason of certain prohibitions contained in the Securities Act of 1933, as amended, and other applicable Federal and state Laws. Agent may, therefore, in conjunction its discretion, take such steps as it may deem appropriate to comply with such Laws and may, for example, at any foreclosure sale of the other properties and rights constituting Collateral consisting of securities restrict the Mortgaged Property in order that the Mortgaged Property, including the Personal Property, may be sold as a single parcel if the Agent elects. The Borrower hereby agrees that if the Agent demands or attempts to take possession of the Personal Property or any portion thereof in exercise of its rights and remedies hereunder, the Borrower will promptly turn over and deliver possession thereof to the Agent, and the Borrower authorizes, to the extent the Borrower may now or hereafter lawfully grant such authority, the Agent, its employees and agents, and potential prospective bidders or purchasers as to enter upon their number, nature of business and investment intention, including, without limitation, a requirement that the Premises Persons making such purchases represent and agree to the satisfaction of Agent that they are purchasing such securities for their account, for investment, and not with a view to the distribution or resale of any thereof. Borrower covenants and agrees to do or cause to be done promptly all such acts and things as Agent may request from time to time and as may be necessary to offer and/or sell the securities or any other office, building or property where the Personal Property or part thereof in a manner which is valid and binding and in conformance with all applicable Laws. Upon any portion thereof may at the time be located (or believed to be located) and the Agent may (i) remove the same therefrom or render the same inoperable (with or without removal from such location); (ii) repair, operate, use or manage the Personal Property or any portion thereof; (iii) maintain, repair or store the Personal Property or any portion thereof; (iv) view, inspect and prepare the Personal Property or any portion thereof for sale, lease sale or disposition; (v) sell, leaseAgent shall have the right to deliver, dispose assign and transfer to the purchaser thereof the Collateral consisting of or consume the same or bid thereon; or (vi) incorporate the Personal Property or any portion thereof into the Land or the Improvements or Fixtures and sell, convey or transfer the same. The expenses of retaking, selling and otherwise disposing of the Personal Property, including reasonable attorneys’ fees and legal expenses incurred in connection therewith, shall constitute securities so much additional Debt and shall be payable upon demand with interest at the Default Ratesold.

Appears in 1 contract

Sources: Loan and Security Agreement (Sunrise Senior Living Inc)

Uniform Commercial Code. Agent shall, with respect to the Personal Property, The Lender shall have all of the rights, options rights and remedies of a secured party under the Code, including without limitationapplicable Uniform Commercial Code and other applicable Laws. Upon demand by the Lender, the right Borrowers shall assemble the Collateral and make it available to the Lender, at a place designated by the Lender. The Lender or its agents may without notice from time to time enter upon the Borrowers' premises to take possession of any such property the Collateral, to remove it, to render it unusable, to process it or any part thereofotherwise prepare it for sale, and the right or to enter with legal process any premises where any such property may be foundsell or otherwise dispose of it. Any requirement of said Code for reasonable notification shall be met by mailing written notice of the sale, disposition or other intended action by the Lender with respect to Borrower the Collateral which is sent by regular mail, postage prepaid, to the Borrowers at its the address set forth in Section 31 hereof ARTICLE 8 of this Agreement, or such other address of the Borrowers which may from time to time be shown on the Lender's records, at least ten (10) days prior to such sale, disposition or other action, shall constitute commercially reasonable notice to the Borrowers. The Lender may alternatively or additionally give such notice in any other commercially reasonable manner. Nothing in this Agreement shall require the Lender to give any notice not required by applicable Laws. If any consent, approval, or authorization of any state, municipal or other governmental department, agency or authority or of any person, or any person, corporation, partnership or other entity having any interest therein, should be necessary to effectuate any sale or other event for which disposition of the Collateral, the Borrowers agree to execute all such notice is required. Any such sale applications and other instruments, and to take all other action, as may be held as required in connection with securing any such consent, approval or authorization. The Borrowers recognize that the Lender may be unable to effect a public sale of all or a part of the Collateral consisting of Securities by reason of certain prohibitions contained in the Securities Act of 1933, as amended, and other applicable federal and state Laws. The Lender may, therefore, in conjunction its discretion, take such steps as it may deem appropriate to comply with such Laws and may, for example, at any foreclosure sale of the other properties and rights constituting Collateral consisting of securities restrict the Mortgaged Property in order that the Mortgaged Property, including the Personal Property, may be sold as a single parcel if the Agent elects. The Borrower hereby agrees that if the Agent demands or attempts to take possession of the Personal Property or any portion thereof in exercise of its rights and remedies hereunder, the Borrower will promptly turn over and deliver possession thereof to the Agent, and the Borrower authorizes, to the extent the Borrower may now or hereafter lawfully grant such authority, the Agent, its employees and agents, and potential prospective bidders or purchasers as to enter upon their number, nature of business and investment intention, including, without limitation, a requirement that the Premises Persons making such purchases represent and agree to the satisfaction of the Lender that they are purchasing such securities for their account, for investment, and not with a view to the distribution or resale of any thereof. The Borrowers covenant and agree to do or cause to be done promptly all such acts and things as the Lender may request from time to time and as may be necessary to offer and/or sell the securities or any other office, building or property where the Personal Property or part thereof in a manner which is valid and binding and in conformance with all applicable Laws. Upon any portion thereof may at the time be located (or believed to be located) and the Agent may (i) remove the same therefrom or render the same inoperable (with or without removal from such location); (ii) repair, operate, use or manage the Personal Property or any portion thereof; (iii) maintain, repair or store the Personal Property or any portion thereof; (iv) view, inspect and prepare the Personal Property or any portion thereof for sale, lease sale or disposition; (v) sell, leasethe Lender shall have the right to deliver, dispose assign and transfer to the purchaser thereof the Collateral consisting of or consume the same or bid thereon; or (vi) incorporate the Personal Property or any portion thereof into the Land or the Improvements or Fixtures and sell, convey or transfer the same. The expenses of retaking, selling and otherwise disposing of the Personal Property, including reasonable attorneys’ fees and legal expenses incurred in connection therewith, shall constitute securities so much additional Debt and shall be payable upon demand with interest at the Default Ratesold.

Appears in 1 contract

Sources: Financing and Security Agreement (Clean Towel Service Inc)

Uniform Commercial Code. Agent shall, with respect to the Personal Property, The Lender shall have all of the rights, options rights and remedies of a secured party under the Code, including without limitationapplicable Uniform Commercial Code and other applicable Laws. Upon demand by the Lender, the right Borrowers shall assemble the Collateral and make it available to the Lender, at a place designated by the Lender. The Lender or its agents may without notice from time to time enter upon any Borrower's premises to take possession of any such property the Collateral, to remove it, to render it unusable, to process it or any part thereofotherwise prepare it for sale, and the right or to enter with legal process any premises where any such property may be foundsell or otherwise dispose of it. Any requirement of said Code for reasonable notification shall be met by mailing written notice of the sale, disposition or other intended action by the Lender with respect to Borrower the Collateral which is sent by regular mail, postage prepaid, to the Borrowers at its the address set forth in Section 31 hereof 8.1 of this Agreement, at least ten (10) days prior to such sale, disposition or other action, shall constitute commercially reasonable notice to the Borrowers. The Lender may alternatively or additionally give such notice in any other commercially reasonable manner. Nothing in this Agreement shall require the Lender to give any notice not required by applicable Laws. If any consent, approval, or authorization of any state, municipal or other governmental department, agency or authority or of any person, or any person, corporation, partnership or other entity having any interest therein, should be necessary to effectuate any sale or other event for which disposition of the Collateral, the Borrower agrees to execute all such notice is required. Any such sale applications and other instruments, and to take all other action, as may be held as required in connection with securing any such consent, approval or authorization. The Borrower recognizes that the Lender may be unable to effect a public sale of all or a part of the Collateral consisting of securities by reason of certain prohibitions contained in the Securities Act of 1933, as amended, and other applicable federal and state Laws. The Lender may, therefore, in conjunction its discretion, take such steps as it may deem appropriate to comply with such Laws and may, for example, at any foreclosure sale of the other properties Collateral consisting of securities restrict the prospective bidders or purchasers as to their number, nature of business and rights constituting the Mortgaged Property in order investment intention, including, without limitation, a requirement that the Mortgaged PropertyPersons making such purchases represent and agree to the satisfaction of the Lender that they are purchasing such securities for their account, including for investment, and not with a view to the Personal Property, may be sold as a single parcel if the Agent electsdistribution or resale of any thereof. The Borrower hereby covenants and agrees that if to do or cause to be done promptly all such acts and things as the Agent demands or attempts Lender may request from time to take possession of time and as may be necessary to offer and/or sell the Personal Property securities or any portion part thereof in exercise of its rights a manner which is valid and remedies hereunderbinding and in conformance with all applicable Laws. Upon any such sale or disposition, the Borrower will promptly turn over Lender shall have the right to deliver, assign and deliver possession thereof transfer to the Agent, and purchaser thereof the Borrower authorizes, to the extent the Borrower may now or hereafter lawfully grant such authority, the Agent, its employees and agents, and potential bidders or purchasers to enter upon the Premises or any other office, building or property where the Personal Property or any portion thereof may at the time be located (or believed to be located) and the Agent may (i) remove the same therefrom or render the same inoperable (with or without removal from such location); (ii) repair, operate, use or manage the Personal Property or any portion thereof; (iii) maintain, repair or store the Personal Property or any portion thereof; (iv) view, inspect and prepare the Personal Property or any portion thereof for sale, lease or disposition; (v) sell, lease, dispose Collateral consisting of or consume the same or bid thereon; or (vi) incorporate the Personal Property or any portion thereof into the Land or the Improvements or Fixtures and sell, convey or transfer the same. The expenses of retaking, selling and otherwise disposing of the Personal Property, including reasonable attorneys’ fees and legal expenses incurred in connection therewith, shall constitute securities so much additional Debt and shall be payable upon demand with interest at the Default Ratesold.

Appears in 1 contract

Sources: Financing and Security Agreement (Kimberton Enterprises Inc)

Uniform Commercial Code. Agent shallDuring an Event of Default Period, Lender may exercise its rights of enforcement with respect to the Personal Property, have all the rights, options and remedies of a secured party Collateral under the CodeUCC. In addition to or in substitution for Lender's UCC rights and remedies: (a) Lender may enter upon the Property to take possession of, including without limitation, assemble and collect the right Collateral or to render it unusable; (b) Lender may require Mortgagor to assemble the possession of any such property Collateral and make it available at the Property or any part thereof, and place Lender designates which is mutually convenient to allow Lender to take possession or dispose of the right to enter with legal process any premises where any such property Collateral; (c) Lender may be found. Any requirement of said Code for reasonable notification shall be met by mailing mail written notice to Borrower at its address set forth in Section 31 hereof at least Mortgagor ten (10) days prior to the sale or other event for which such notice is required. Any such sale may be held as part date of and in conjunction with any foreclosure sale of the other properties Collateral, and rights constituting such notice will constitute reasonable notice under the Mortgaged Property in order that the Mortgaged Property, including the Personal Property, may be sold as a single parcel if the Agent elects. The Borrower hereby agrees that if the Agent demands or attempts to UCC; (d) Lender need not take possession of the Personal Property or Collateral prior to any portion thereof in exercise of its rights and remedies hereunder, the Borrower will promptly turn over and deliver possession thereof Transfer Event; (e) prior to applying Transfer Event proceeds to the AgentObligations, and Lender may apply the Borrower authorizes, proceeds to the extent reasonable expenses (including Lender's legal expenses and reasonable attorneys' fees, including allocated in-house counsel expenses) incurred to collect and enforce the Borrower Obligations or to take possession of, hold or prepare the Collateral for transfer; (f) Lender may now dispose of the Collateral in a public or hereafter lawfully grant such authority, the Agent, its employees and agents, and potential bidders or purchasers to enter upon the Premises or any other office, building or property where the Personal Property or any portion thereof may at the time be located (or believed to be located) and the Agent may private sale (i) remove the same therefrom or render the same inoperable (with or without removal from such location); giving any warranties, and (ii) repairmay disclaim all warranties, operateincluding warranties of title, use or manage merchantability, and fitness for a particular purpose, without adversely affecting the Personal Property or commercial reasonableness of Lender's disposition of the Collateral; and (g) Mortgagor waives any portion thereof; claims based on the fact that (iiii) maintain, repair or store a private sale of the Personal Property or any portion thereof; (iv) view, inspect and prepare the Personal Property or any portion thereof for Collateral results in less proceeds than a public sale, lease and (ii) the Collateral is sold at a book (or disposition; (vother) sell, lease, dispose of or consume the same or bid thereon; or (vi) incorporate the Personal Property or any portion thereof into the Land or the Improvements or Fixtures and sell, convey or transfer the same. The expenses of retaking, selling and otherwise disposing of the Personal Property, including reasonable attorneys’ fees and legal expenses incurred in connection therewith, shall constitute so much additional Debt and shall be payable upon demand with interest at the Default Rateloss to Mortgagor.

Appears in 1 contract

Sources: Stock Purchase Agreement (Addvantage Technologies Group Inc)

Uniform Commercial Code. The Agent shall, with respect to the Personal Property, shall have all of the rights, options rights and remedies of a secured party under the Code, including without limitationapplicable Uniform Commercial Code and other applicable Laws. Upon demand by the Agent, the right Borrower shall assemble the Collateral and make it available to the Agent, at a place designated by the Agent. The Agent or its agents may without notice from time to time enter upon the Borrower's premises to take possession of any such property the Collateral, to remove it, to render it unusable, to process it or any part thereofotherwise prepare it for sale, and or to sell or otherwise dispose of it. At the right Agent's direction, the Borrower shall cease to enter with legal process any premises where any such property may be foundprocess, prepare for sale, sell or otherwise dispose of the Collateral. Any requirement of said Code for reasonable notification shall be met by mailing written notice of the sale, disposition or other intended action by the Agent with respect to the Collateral which is sent by regular mail, postage prepaid, to the Borrower at its respective address set forth in Section 31 hereof 9.1 of this Agreement, or such other address of the Borrower which may from time to time be shown on the Agent's records, at least ten (10) days prior to such sale, disposition or other action, shall constitute commercially reasonable notice to the Borrower. The Agent may alternatively or additionally give such notice in any other commercially reasonable manner. Nothing in this Agreement shall require the Agent to give any notice not required by applicable Laws or not required by the specific terms of this Agreement. If any consent, approval, or authorization of any state, municipal or other Governmental Authority or of any other Person or of any Person having any interest therein, should be necessary to effectuate any sale or other event for which disposition of the Collateral, the Borrower agrees to execute all such notice is required. Any such sale applications and other instruments, and to take all other action, as may be held as required in connection with securing any such consent, approval or authorization. The Borrower recognizes that the Agent may be unable to effect a public sale of all or a part of the Collateral consisting of Securities by reason of certain prohibitions contained in the Securities Act of 1933, as amended, and in conjunction other applicable federal and state Laws. The Agent may, therefore, take such steps as it may deem appropriate to comply with such Laws and may, for example, at any foreclosure sale of the other properties Collateral consisting of Securities restrict the prospective bidders or purchasers as to their number, nature of business and rights constituting the Mortgaged Property in order investment intention, including, without limitation, a requirement that the Mortgaged Property, including Persons making such purchases represent and agree to the Personal Property, may be sold as a single parcel if satisfaction of the Agent electsthat they are purchasing such Securities for their account, for investment, and not with a view to the distribution or resale of any thereof. The Borrower hereby covenants and agrees that if the Agent demands to do or attempts to take possession of the Personal Property or any portion thereof in exercise of its rights and remedies hereunder, the Borrower will promptly turn over and deliver possession thereof to the Agent, and the Borrower authorizes, to the extent the Borrower may now or hereafter lawfully grant such authority, the Agent, its employees and agents, and potential bidders or purchasers to enter upon the Premises or any other office, building or property where the Personal Property or any portion thereof may at the time be located (or believed cause to be located) done promptly all such acts and things as the Agent may (i) remove request from time to time and as may be necessary to offer and/or sell the same therefrom or render the same inoperable (with or without removal from such location); (ii) repair, operate, use or manage the Personal Property Securities or any portion thereof; (iii) maintain, repair or store the Personal Property or part thereof in a manner which is valid and binding and in conformance with all applicable Laws. Upon any portion thereof; (iv) view, inspect and prepare the Personal Property or any portion thereof for sale, lease such sale or disposition; (v) sell, leasethe Agent shall have the right to deliver, dispose assign and transfer to the purchaser thereof the Collateral consisting of or consume the same or bid thereon; or (vi) incorporate the Personal Property or any portion thereof into the Land or the Improvements or Fixtures and sell, convey or transfer the same. The expenses of retaking, selling and otherwise disposing of the Personal Property, including reasonable attorneys’ fees and legal expenses incurred in connection therewith, shall constitute Securities so much additional Debt and shall be payable upon demand with interest at the Default Ratesold.

Appears in 1 contract

Sources: Financing and Security Agreement (Reunion Industries Inc)

Uniform Commercial Code. Agent shall, with respect to the Personal Property, The Lender shall have all of the rights, options rights and remedies of a secured party under the Code, including without limitationapplicable Uniform Commercial Code and other applicable Laws. Upon demand by the Lender, the right Borrower shall assemble the Collateral and make it available to the Lender, at a place designated by the Lender. The Lender or its agents may without notice from time to time enter upon the Borrower's premises to take possession of any such property the Collateral, to remove it, to render it unusable, to process it or any part thereofotherwise prepare it for sale, and the right or to enter with legal process any premises where any such property may be foundsell or otherwise dispose of it. Any requirement of said Code for reasonable notification shall be met by mailing written notice of the sale, disposition or other intended action by the Lender with respect to the Collateral that is sent by regular mail, postage prepaid, to the Borrower at its the address set forth in Section 31 hereof 8.1 of this Agreement, or such other address of the Borrower that may from time to time be shown on the Lender's records, at least ten (10) days prior to such sale, disposition or other action, shall constitute commercially reasonable notice to the Borrower. The Lender may alternatively or additionally give such notice in any other commercially reasonable manner. Nothing in this Agreement shall require the Lender to give any notice not required by applicable Laws. If any consent, approval, or authorization of any state, municipal or other governmental department, agency or authority or of any person, or any person, corporation, partnership or other entity having any interest therein, should be necessary to effectuate any sale or other event for which disposition of the Collateral, the Borrower agrees to execute all such notice is required. Any such sale applications and other instruments, and to take all other action, as may be held as required in connection with securing any such consent, approval or authorization. The Borrower recognizes that the Lender may be unable to effect a public sale of all or a part of the Collateral consisting of securities by reason of certain prohibitions contained in the Securities Act of 1933, as amended, and other applicable federal and state Laws. The Lender may, therefore, in conjunction its discretion, take such steps as it may deem appropriate to comply with such Laws and may, for example, at any foreclosure sale of the other properties Collateral consisting of securities restrict the prospective bidders or purchasers as to their number, nature of business and rights constituting the Mortgaged Property in order investment intention, including, without limitation, a requirement that the Mortgaged PropertyPersons making such purchases represent and agree to the satisfaction of the Lender that they are purchasing such securities for their account, including for investment, and not with a view to the Personal Property, may be sold as a single parcel if the Agent electsdistribution or resale of any thereof. The Borrower hereby covenants and agrees that if to do or cause to be done promptly all such acts and things as the Agent demands or attempts Lender may request from time to take possession of time and as may be necessary to offer and/or sell the Personal Property securities or any portion part thereof in exercise of its rights a manner that is valid and remedies hereunderbinding and in conformance with all applicable Laws. Upon any such sale or disposition, the Borrower will promptly turn over Lender shall have the right to deliver, assign and deliver possession thereof transfer to the Agent, and purchaser thereof the Borrower authorizes, to the extent the Borrower may now or hereafter lawfully grant such authority, the Agent, its employees and agents, and potential bidders or purchasers to enter upon the Premises or any other office, building or property where the Personal Property or any portion thereof may at the time be located (or believed to be located) and the Agent may (i) remove the same therefrom or render the same inoperable (with or without removal from such location); (ii) repair, operate, use or manage the Personal Property or any portion thereof; (iii) maintain, repair or store the Personal Property or any portion thereof; (iv) view, inspect and prepare the Personal Property or any portion thereof for sale, lease or disposition; (v) sell, lease, dispose Collateral consisting of or consume the same or bid thereon; or (vi) incorporate the Personal Property or any portion thereof into the Land or the Improvements or Fixtures and sell, convey or transfer the same. The expenses of retaking, selling and otherwise disposing of the Personal Property, including reasonable attorneys’ fees and legal expenses incurred in connection therewith, shall constitute securities so much additional Debt and shall be payable upon demand with interest at the Default Ratesold.

Appears in 1 contract

Sources: Financing and Security Agreement (Dcap Group Inc/)

Uniform Commercial Code. Agent shall, with respect to the Personal Property, (a) Lender shall have all of the rights, options rights and remedies of a secured party under the CodeCode as well as all other rights and remedies available at law or in equity. (b) ▇▇▇▇▇▇▇▇ agrees to deliver to Lender any financing statements, including without limitationas well as extensions, the right to the possession of any such property or any part renewals and amendments thereof, and to execute and deliver to Lender any reproductions of this Deed of Trust in such form as Lender may require to perfect a security interest with respect to the right Personal Property. ▇▇▇▇▇▇▇▇ hereby authorizes and empowers ▇▇▇▇▇▇ and irrevocably appoints Lender its agent and attorney-in-fact to enter file, on ▇▇▇▇▇▇▇▇’s behalf, all financing statements and refilings and continuations thereof as Lender deems necessary or advisable to create, preserve and protect such lien, which financing statements may describe the collateral as “all assets” of the debtor or words of similar effect. Borrower shall pay all costs of filing such financing statements and any extensions, renewals, amendments and releases thereof, and shall pay all reasonable costs and expenses of any record searches for financing statements as Lender may reasonably require. (c) Except as permitted pursuant to the Loan Agreement, Borrower shall not, without the prior written consent of Lender, sell, assign, transfer, encumber, remove or permit to be removed from the Premises any of the Personal Property. Notwithstanding the foregoing, so long as no Event of Default has occurred and is continuing, Borrower may sell or otherwise dispose of any Personal Property when obsolete, worn out, inadequate, unserviceable or unnecessary for use in the operation of the Premises, but only upon replacing the same with legal process any premises where any such property may be foundother Personal Property at least equal in value and utility to the disposed Personal Property. Any requirement of said Code for reasonable notification replacement or substituted Personal Property shall be met subject to the security interest granted herein. (d) To the extent permitted by mailing written notice law, ▇▇▇▇▇▇▇▇ and ▇▇▇▇▇▇ agree that with respect to all items of Personal Property which are or will become fixtures on the Land, this Deed of Trust, upon recording or registration in the real estate records of the proper office, shall constitute a “fixture filing” within the meaning of Sections 9501(a)(1) and 9502(b) and (c) of the Code. ▇▇▇▇▇▇▇▇ is the record owner of the Land. (e) Upon the occurrence and during the continuance of an Event of Default under this Deed of Trust, Lender, pursuant to the appropriate provisions of the Code and subject to other applicable provisions of California law, shall have an option to proceed with respect to both the real property portion of the interest of Borrower in the Premises and the Personal Property in accordance with its rights, powers and remedies with respect to such real property, in which event the default provisions of the Code shall not apply. Such option shall be revocable by ▇▇▇▇▇▇ as to all or any portion of the Personal Property at its address set forth in Section 31 hereof at least ten (10) days any time prior to the sale or other of the remainder of the interest of Borrower in the Premises. In such event for which such notice is required. Any such sale may be held as part of and in conjunction with any foreclosure Lender shall designate Trustee to conduct the sale of the other properties and rights constituting the Mortgaged Personal Property in order that combination with the Mortgaged Property, including sale of the Personal Property, may be sold as a single parcel if remainder of the Agent electsinterest of Borrower in the Premises. The Borrower hereby agrees that if the Agent demands or attempts Should Lender elect to take possession of sell the Personal Property or any part thereof which is real property or which ▇▇▇▇▇▇ has elected to treat as real property or which may be sold together with the real property as provided above, Lender or Trustee shall give such notice of default and election to sell as may then be required by law. The parties agree that if Lender shall elect to proceed with respect to any portion thereof in exercise of its rights and remedies hereunder, the Borrower will promptly turn over and deliver possession thereof to the Agent, and the Borrower authorizes, to the extent the Borrower may now or hereafter lawfully grant such authority, the Agent, its employees and agents, and potential bidders or purchasers to enter upon the Premises or any other office, building or property where the Personal Property or any portion thereof may at the time be located (or believed to be located) and the Agent may (i) remove the same therefrom or render the same inoperable (with or without removal separately from such location); real property, ten (ii10) repair, operate, use or manage days’ notice of the sale of the Personal Property or any portion thereof; (iii) maintain, repair or store the Personal Property or any portion thereof; (iv) view, inspect and prepare the Personal Property or any portion thereof for sale, lease or disposition; (v) sell, lease, dispose of or consume the same or bid thereon; or (vi) incorporate the Personal Property or any portion thereof into the Land or the Improvements or Fixtures and sell, convey or transfer the sameshall be reasonable notice. The reasonable expenses of retaking, holding, preparing for sale, selling and otherwise disposing of the Personal Propertylike incurred by ▇▇▇▇▇▇ shall include, including but not be limited to, reasonable attorneys’ fees fees, costs and legal expenses, and other expenses incurred in connection therewith, shall constitute so much additional Debt and shall be payable upon demand with interest at the Default Rateby ▇▇▇▇▇▇.

Appears in 1 contract

Sources: Deed of Trust (Kilroy Realty, L.P.)

Uniform Commercial Code. Agent shall, with respect to the Personal Property, Lender shall have all of the rights, options rights and remedies of a secured party under the CodeUCC. Upon demand by Lender, including Borrower shall assemble the UCC Collateral and make it available to Lender, at a place designated by Lender. Lender or its agents may without limitationnotice from time to time enter upon Borrower’s premises to take possession of the UCC Collateral, to remove it, to render it unusable, to process it or otherwise prepare it for sale, or to sell or otherwise dispose of it. Any written notice of the right sale, disposition or other intended action by Lender with respect to the possession of any such property or any part thereofUCC Collateral which is sent by regular mail, and the right to enter with legal process any premises where any such property may be found. Any requirement of said Code for reasonable notification shall be met by mailing written notice postage prepaid, to Borrower at its the address set forth in Section 31 hereof of Borrower which may from time to time be shown on Lender’s records, at least ten (10) days prior to the such sale, disposition or other action, shall constitute commercially reasonable notice to Borrower. Lender may alternatively or additionally give such notice in any other commercially reasonable manner. Nothing in this Security Instrument shall require Lender to give any notice not required by applicable laws. If any consent, approval, or authorization of any state, municipal or other governmental department, agency or authority or of any person, or any person, corporation, partnership or other entity having any interest therein, should be necessary to effectuate any sale or other event for which disposition of the UCC Collateral, Borrower agrees to execute all such notice is required. Any such sale applications and other instruments, and to take all other action, as may be held as required in connection with securing any such consent, approval or authorization. If and to the extent any UCC Collateral consists of securities, Borrower recognizes that Lender may be unable to effect a public sale of all or a part of the UCC Collateral consisting of securities by reason of certain prohibitions contained in the Securities Act of 1933, as amended, and other applicable federal and state laws. Lender may, therefore, in conjunction its discretion, take such steps as it may deem appropriate to comply with such laws and may, for example, at any foreclosure sale of the other properties and rights constituting UCC Collateral consisting of securities restrict the Mortgaged Property in order that the Mortgaged Property, including the Personal Property, may be sold as a single parcel if the Agent elects. The Borrower hereby agrees that if the Agent demands or attempts to take possession of the Personal Property or any portion thereof in exercise of its rights and remedies hereunder, the Borrower will promptly turn over and deliver possession thereof to the Agent, and the Borrower authorizes, to the extent the Borrower may now or hereafter lawfully grant such authority, the Agent, its employees and agents, and potential prospective bidders or purchasers as to enter upon their number, nature of business and investment intention, including, without limitation, a requirement that the Premises Persons making such purchases represent and agree to the satisfaction of Lender that they are purchasing such securities for their account, for investment, and not with a view to the distribution or resale of any thereof. Borrower covenants and agrees to do or cause to be done promptly all such acts and things as Lender may request from time to time and as may be necessary to offer and/or sell the securities or any other office, building or property where the Personal Property or part thereof in a manner which is valid and binding and in conformance with all applicable laws. Upon any portion thereof may at the time be located (or believed to be located) and the Agent may (i) remove the same therefrom or render the same inoperable (with or without removal from such location); (ii) repair, operate, use or manage the Personal Property or any portion thereof; (iii) maintain, repair or store the Personal Property or any portion thereof; (iv) view, inspect and prepare the Personal Property or any portion thereof for sale, lease sale or disposition; (v) sell, leaseLender shall have the right to deliver, dispose assign and transfer to the purchaser thereof the UCC Collateral consisting of or consume the same or bid thereon; or (vi) incorporate the Personal Property or any portion thereof into the Land or the Improvements or Fixtures and sell, convey or transfer the same. The expenses of retaking, selling and otherwise disposing of the Personal Property, including reasonable attorneys’ fees and legal expenses incurred in connection therewith, shall constitute securities so much additional Debt and shall be payable upon demand with interest at the Default Ratesold.

Appears in 1 contract

Sources: Deed to Secure Debt and Security Agreement (CNL Healthcare Trust, Inc.)

Uniform Commercial Code. Agent shall, with respect to the Personal Property, The Lender shall have all of the rights, options rights and remedies of a secured party under the Code, including without limitationapplicable Uniform Commercial Code and other applicable Laws. Upon demand by the Lender, the right Borrowers shall assemble the Collateral and make it available to the Lender, at a place designated by the Lender. The Lender or its agents may without notice from time to time enter upon any Borrower's premises to take possession of any such property the Collateral, to remove it, to render it unusable, to process it or any part thereofotherwise prepare it for sale, and the right or to enter with legal process any premises where any such property may be foundsell or otherwise dispose of it. Any requirement of said Code for reasonable notification shall be met by mailing written notice of the sale, disposition or other intended action by the Lender with respect to Borrower the Collateral which is sent by regular mail, postage prepaid, to the Borrowers at its the address set forth in Section 31 hereof 8.1 (Notices), or such other address of the Borrowers which may from time to time be shown on the Lender's records, at least ten (10) days prior to such sale, disposition or other action, shall constitute commercially reasonable notice to the Borrowers. The Lender may alternatively or additionally give such notice in any other commercially reasonable manner. Nothing in this Agreement shall require the Lender to give any notice not required by applicable Laws. If any consent, approval, or authorization of any state, municipal or other Governmental Authority or of any other Person or of any Person having any interest therein, should be necessary to effectuate any sale or other event for which disposition of the Collateral, the Borrowers agree to execute all such notice is required. Any such sale applications and other instruments, and to take all other action, as may be held as required in connection with securing any such consent, approval or authorization. The Borrowers recognize that the Lender may be unable to effect a public sale of all or a part of the Collateral consisting of Securities by reason of certain prohibitions contained in the Securities Act of 1933, as amended, and other applicable Federal and state Laws. The Lender may, therefore, in conjunction its discretion, take such steps as it may deem appropriate to comply with such Laws and may, for example, at any foreclosure sale of the other properties and rights constituting Collateral consisting of securities restrict the Mortgaged Property in order that the Mortgaged Property, including the Personal Property, may be sold as a single parcel if the Agent elects. The Borrower hereby agrees that if the Agent demands or attempts to take possession of the Personal Property or any portion thereof in exercise of its rights and remedies hereunder, the Borrower will promptly turn over and deliver possession thereof to the Agent, and the Borrower authorizes, to the extent the Borrower may now or hereafter lawfully grant such authority, the Agent, its employees and agents, and potential prospective bidders or purchasers as to enter upon their number, nature of business and investment intention, including, without limitation, a requirement that the Premises Persons making such purchases represent and agree to the satisfaction of the Lender that they are purchasing such securities for their account, for investment, and not with a view to the distribution or resale of any thereof. The Borrowers covenant and agree to do or cause to be done promptly all such acts and things as the Lender may request from time to time and as may be necessary to offer and/or sell the securities or any other office, building or property where the Personal Property or part thereof in a manner which is valid and binding and in conformance with all applicable Laws. Upon any portion thereof may at the time be located (or believed to be located) and the Agent may (i) remove the same therefrom or render the same inoperable (with or without removal from such location); (ii) repair, operate, use or manage the Personal Property or any portion thereof; (iii) maintain, repair or store the Personal Property or any portion thereof; (iv) view, inspect and prepare the Personal Property or any portion thereof for sale, lease sale or disposition; (v) sell, leasethe Lender shall have the right to deliver, dispose assign and transfer to the purchaser thereof the Collateral consisting of or consume the same or bid thereon; or (vi) incorporate the Personal Property or any portion thereof into the Land or the Improvements or Fixtures and sell, convey or transfer the same. The expenses of retaking, selling and otherwise disposing of the Personal Property, including reasonable attorneys’ fees and legal expenses incurred in connection therewith, shall constitute securities so much additional Debt and shall be payable upon demand with interest at the Default Ratesold.

Appears in 1 contract

Sources: Financing and Security Agreement (Spacehab Inc \Wa\)

Uniform Commercial Code. Agent shall, with respect to the Personal Property, Beneficiary shall have all of the rights, options rights and remedies of a secured party under the CodeUCC. Upon demand by Beneficiary, including Trustor shall assemble the UCC Collateral and make it available to Beneficiary, at a place designated by Beneficiary. Beneficiary or its agents may without limitationnotice from time to time enter upon Trustor's premises to take possession of the UCC Collateral, to remove it, to render it unusable, to process it or otherwise prepare it for sale, or to sell or otherwise dispose of it. Any written notice of the right sale, disposition or other intended action by Beneficiary with respect to the possession UCC Collateral which is sent by regular mail, postage prepaid, to Trustor at the address of any such property or any part thereofTrustor which may from time to time be shown on Beneficiary's records, and the right to enter with legal process any premises where any such property may be found. Any requirement of said Code for reasonable notification shall be met by mailing written notice to Borrower at its address set forth in Section 31 hereof at least ten (10) days prior to the such sale, disposition or other action, shall constitute commercially reasonable notice to Trustor. Beneficiary may alternatively or additionally give such notice in any other commercially reasonable manner. Nothing in this Security Instrument shall require Beneficiary to give any notice not required by applicable laws. If any consent, approval, or authorization of any state, municipal or other governmental department, agency or authority or of any person, or any person, corporation, partnership or other entity having any interest therein, should be necessary to effectuate any sale or other event for which disposition of the UCC Collateral, Trustor agrees to execute all such notice is required. Any such sale applications and other instruments, and to take all other action, as may be held as required in connection with securing any such consent, approval or authorization. Trustor recognizes that Beneficiary may be unable to effect a public sale of all or a part of the UCC Collateral consisting of securities by reason of certain prohibitions contained in the Securities Act of 1933, as amended, and other applicable federal and state laws. Beneficiary may, therefore, in conjunction its discretion, take such steps as it may deem appropriate to comply with such laws and may, for example, at any foreclosure sale of the other properties and rights constituting UCC Collateral consisting of securities restrict the Mortgaged Property in order that the Mortgaged Property, including the Personal Property, may be sold as a single parcel if the Agent elects. The Borrower hereby agrees that if the Agent demands or attempts to take possession of the Personal Property or any portion thereof in exercise of its rights and remedies hereunder, the Borrower will promptly turn over and deliver possession thereof to the Agent, and the Borrower authorizes, to the extent the Borrower may now or hereafter lawfully grant such authority, the Agent, its employees and agents, and potential prospective bidders or purchasers as to enter upon their number, nature of business and investment intention, including, without limitation, a requirement that the Premises Persons making such purchases represent and agree to the satisfaction of Beneficiary that they are purchasing such securities for their account, for investment, and not with a view to the distribution or resale of any thereof. Trustor covenants and agrees to do or cause to be done promptly all such acts and things as Beneficiary may request from time to time and as may be necessary to offer and/or sell the securities or any other office, building or property where the Personal Property or part thereof in a manner which is valid and binding and in conformance with all applicable laws. Upon any portion thereof may at the time be located (or believed to be located) and the Agent may (i) remove the same therefrom or render the same inoperable (with or without removal from such location); (ii) repair, operate, use or manage the Personal Property or any portion thereof; (iii) maintain, repair or store the Personal Property or any portion thereof; (iv) view, inspect and prepare the Personal Property or any portion thereof for sale, lease sale or disposition; (v) sell, leaseBeneficiary shall have the right to deliver, dispose assign and transfer to the purchaser thereof the UCC Collateral consisting of or consume the same or bid thereon; or (vi) incorporate the Personal Property or any portion thereof into the Land or the Improvements or Fixtures and sell, convey or transfer the same. The expenses of retaking, selling and otherwise disposing of the Personal Property, including reasonable attorneys’ fees and legal expenses incurred in connection therewith, shall constitute securities so much additional Debt and shall be payable upon demand with interest at the Default Ratesold.

Appears in 1 contract

Sources: Deed of Trust and Security Agreement (Arv Assisted Living Inc)

Uniform Commercial Code. Agent shall, with respect to the Personal Property, Beneficiary shall have all of the rights, options rights and remedies of a secured party under the CodeUCC. Upon demand by Beneficiary, including Trustor shall assemble the UCC Collateral and make it available to Beneficiary, at a place designated by Beneficiary. Beneficiary or its agents may without limitationnotice from time to time enter upon Trustor’s premises to take possession of the UCC Collateral, to remove it, to render it unusable, to process it or otherwise prepare it for sale, or to sell or otherwise dispose of it. Any written notice of the right sale, disposition or other intended action by Beneficiary with respect to the possession UCC Collateral which is sent by regular mail, postage prepaid, to Trustor at the address of any such property or any part thereofTrustor which may from time to time be shown on Beneficiary’s records, and the right to enter with legal process any premises where any such property may be found. Any requirement of said Code for reasonable notification shall be met by mailing written notice to Borrower at its address set forth in Section 31 hereof at least ten (10) days prior to the such sale, disposition or other action, shall constitute commercially reasonable notice to Trustor. Beneficiary may alternatively or additionally give such notice in any other commercially reasonable manner. Nothing in this Security Instrument shall require Beneficiary to give any notice not required by applicable laws. If any consent, approval, or authorization of any state, municipal or other governmental department, agency or authority or of any person, or any person, corporation, partnership or other entity having any interest therein, should be necessary to effectuate any sale or other event for which disposition of the UCC Collateral, Trustor agrees to execute all such notice is required. Any such sale applications and other instruments, and to take all other action, as may be held as required in connection with securing any such consent, approval or authorization. Trustor recognizes that Beneficiary may be unable to effect a public sale of all or a part of the UCC Collateral consisting of securities by reason of certain prohibitions contained in the Securities Act of 1933, as amended, and other applicable federal and state laws. Beneficiary may, therefore, in conjunction its discretion, take such steps as it may deem appropriate to comply with such laws and may, for example, at any foreclosure sale of the other properties and rights constituting UCC Collateral consisting of securities restrict the Mortgaged Property in order that the Mortgaged Property, including the Personal Property, may be sold as a single parcel if the Agent elects. The Borrower hereby agrees that if the Agent demands or attempts to take possession of the Personal Property or any portion thereof in exercise of its rights and remedies hereunder, the Borrower will promptly turn over and deliver possession thereof to the Agent, and the Borrower authorizes, to the extent the Borrower may now or hereafter lawfully grant such authority, the Agent, its employees and agents, and potential prospective bidders or purchasers as to enter upon their number, nature of business and investment intention, including, without limitation, a requirement that the Premises Persons making such purchases represent and agree to the satisfaction of Beneficiary that they are purchasing such securities for their account, for investment, and not with a view to the distribution or resale of any thereof. Trustor covenants and agrees to do or cause to be done promptly all such acts and things as Beneficiary may request from time to time and as may be necessary to offer and/or sell the securities or any other office, building or property where the Personal Property or part thereof in a manner which is valid and binding and in conformance with all applicable laws. Upon any portion thereof may at the time be located (or believed to be located) and the Agent may (i) remove the same therefrom or render the same inoperable (with or without removal from such location); (ii) repair, operate, use or manage the Personal Property or any portion thereof; (iii) maintain, repair or store the Personal Property or any portion thereof; (iv) view, inspect and prepare the Personal Property or any portion thereof for sale, lease sale or disposition; (v) sell, leaseBeneficiary shall have the right to deliver, dispose assign and transfer to the purchaser thereof the UCC Collateral consisting of or consume the same or bid thereon; or (vi) incorporate the Personal Property or any portion thereof into the Land or the Improvements or Fixtures and sell, convey or transfer the same. The expenses of retaking, selling and otherwise disposing of the Personal Property, including reasonable attorneys’ fees and legal expenses incurred in connection therewith, shall constitute securities so much additional Debt and shall be payable upon demand with interest at the Default Ratesold.

Appears in 1 contract

Sources: Deed of Trust and Security Agreement (Arv Assisted Living Inc)

Uniform Commercial Code. Agent shall, with respect Subject to the Personal Propertyterms and conditions of the Intercreditor Agreement, the Collateral Agent shall have all of the rights, options rights and remedies of a secured party under the Code, including without limitationapplicable Uniform Commercial Code and other applicable Laws. Upon demand by the Collateral Agent, the right Borrower shall assemble the Collateral and make it available to the Collateral Agent at a place designated by the Collateral Agent. The Collateral Agent, or its agents may without notice from time to time enter upon the Borrower's premises to take possession of any such property the Collateral, to remove it, to render it unusable, to process it or any part thereofotherwise prepare it for sale, and the right or to enter with legal process any premises where any such property may be foundsell or otherwise dispose of it. Any requirement of said Code for reasonable notification shall be met by mailing written notice of the sale, disposition or other intended action by the Collateral Agent with respect to the Collateral which is sent by regular mail, postage prepaid, to the Borrower at its the address set forth in Section 31 hereof 9.1 (Notices), or such other address of the Borrower which may from time to time be shown on the Collateral Agent's records, at least ten (10) days prior to such sale, disposition or other action, shall constitute commercially reasonable notice to the Borrower. The Collateral Agent may alternatively or additionally give such notice in any other commercially reasonable manner. If any consent, approval, or authorization of any state, municipal or other Governmental Authority or of any other Person or of any Person having any interest therein, should be necessary to effectuate any sale or other event for which disposition of the Collateral, the Borrower agrees to execute all such notice is required. Any such sale applications and other instruments, and to take all other action, as may be held as required in connection with securing any such consent, approval or authorization. The Borrower recognizes that the Collateral Agent may be unable to effect a public sale of all or a part of the Collateral consisting of Securities by reason of certain prohibitions contained in the Securities Act of 1933, as amended, and other applicable Federal and state Laws. The Collateral Agent may, therefore, in conjunction its discretion, take such steps as it may deem appropriate to comply with such Laws and may, for example, at any foreclosure sale of the other properties Collateral consisting of securities restrict the prospective bidders or purchasers as to their number, nature of business and rights constituting the Mortgaged Property in order investment intention, including, without limitation, a requirement that the Mortgaged PropertyPersons making such purchases represent and agree to the satisfaction of the Collateral Agent, including that they are purchasing such securities for their account, for investment, and not with a view to the Personal Property, may be sold as a single parcel if the Agent electsdistribution or resale of any thereof. The Borrower hereby covenants and agrees that if to do or cause to be done promptly all such acts and things as the Collateral Agent demands or attempts may request from time to take possession of time and as may be necessary to offer and/or sell the Personal Property Securities or any portion part thereof in exercise of its rights a manner which is valid and remedies hereunderbinding and in conformance with all applicable Laws. Upon any such sale or disposition, the Borrower will promptly turn over Collateral Agent shall have the right to deliver, assign and deliver possession thereof transfer to the Agent, and purchaser thereof the Borrower authorizes, to the extent the Borrower may now or hereafter lawfully grant such authority, the Agent, its employees and agents, and potential bidders or purchasers to enter upon the Premises or any other office, building or property where the Personal Property or any portion thereof may at the time be located (or believed to be located) and the Agent may (i) remove the same therefrom or render the same inoperable (with or without removal from such location); (ii) repair, operate, use or manage the Personal Property or any portion thereof; (iii) maintain, repair or store the Personal Property or any portion thereof; (iv) view, inspect and prepare the Personal Property or any portion thereof for sale, lease or disposition; (v) sell, lease, dispose Collateral consisting of or consume the same or bid thereon; or (vi) incorporate the Personal Property or any portion thereof into the Land or the Improvements or Fixtures and sell, convey or transfer the same. The expenses of retaking, selling and otherwise disposing of the Personal Property, including reasonable attorneys’ fees and legal expenses incurred in connection therewith, shall constitute securities so much additional Debt and shall be payable upon demand with interest at the Default Ratesold.

Appears in 1 contract

Sources: Loan and Security Agreement (BPC Holding Corp)

Uniform Commercial Code. The Agent shall, with respect to the Personal Property, shall have all of the rights, options rights and remedies of a secured party under the Code, including without limitationapplicable Uniform Commercial Code and other applicable Laws. Upon demand by the Agent after acceleration of the Obligations under Section 7.2.1, the right Borrowers shall assemble the Collateral and make it available to the Agent, at a place designated by the Agent. The Agent or its agents may without notice after acceleration of the Obligations under Section 7.2.1, from time to time enter upon any Borrower's premises to take possession of any such property the Collateral, to remove it, to render it unusable, to process it or any part thereofotherwise prepare it for sale, and the right or to enter with legal process any premises where any such property may be foundsell or otherwise dispose of it. Any requirement of said Code for reasonable notification shall be met by mailing written notice of the sale, disposition or other intended action by the Agent with respect to Borrower the Collateral which is sent by regular mail, postage prepaid, to the Borrowers at its the address set forth in Section 31 hereof 9.1 of this Agreement, or such other address of the Borrowers which may from time to time be shown on the Agent's records, at least ten (10) days prior to such sale, disposition or other action, shall constitute commercially reasonable notice to the Borrowers. The Agent may alternatively or additionally give such notice in any other commercially reasonable manner. Nothing in this Agreement shall require the Agent to give any notice not required by applicable Laws. If any consent, approval, or authorization of any state, municipal or other Governmental Authority or of any other Person or of any Person having any interest therein, should be necessary to effectuate any sale or other event for which disposition of the Collateral, the Borrowers agree to execute all such notice is required. Any such sale applications and other instruments, and to take all other action, as may be held as required in 149 connection with securing any such consent, approval or authorization. The Borrowers recognize that the Agent may be unable to effect a public sale of all or a part of the Collateral consisting of Securities by reason of certain prohibitions contained in the Securities Act of 1933, as amended, and other applicable Federal and state Laws. The Agent may, therefore, in conjunction its discretion, take such steps as it may deem appropriate to comply with such Laws and may, for example, at any foreclosure sale of the other properties and rights constituting Collateral consisting of securities restrict the Mortgaged Property in order that the Mortgaged Property, including the Personal Property, may be sold as a single parcel if the Agent elects. The Borrower hereby agrees that if the Agent demands or attempts to take possession of the Personal Property or any portion thereof in exercise of its rights and remedies hereunder, the Borrower will promptly turn over and deliver possession thereof to the Agent, and the Borrower authorizes, to the extent the Borrower may now or hereafter lawfully grant such authority, the Agent, its employees and agents, and potential prospective bidders or purchasers as to enter upon their number, nature of business and investment intention, including, without limitation, a requirement that the Premises Persons making such purchases represent and agree to the satisfaction of the Agent that they are purchasing such securities for their account, for investment, and not with a view to the distribution or resale of any other office, building thereof. The Borrowers covenant and agree to do or property where the Personal Property or any portion thereof may at the time be located (or believed cause to be located) done promptly all such acts and things as the Agent may (i) remove request from time to time and as may be necessary to offer and/or sell the same therefrom or render the same inoperable (with or without removal from such location); (ii) repair, operate, use or manage the Personal Property securities or any portion thereof; (iii) maintain, repair or store the Personal Property or part thereof in a manner which is valid and binding and in conformance with all applicable Laws. Upon any portion thereof; (iv) view, inspect and prepare the Personal Property or any portion thereof for sale, lease such sale or disposition; (v) sell, leasethe Agent shall have the right to deliver, dispose assign and transfer to the purchaser thereof the Collateral consisting of or consume the same or bid thereon; or (vi) incorporate the Personal Property or any portion thereof into the Land or the Improvements or Fixtures and sell, convey or transfer the same. The expenses of retaking, selling and otherwise disposing of the Personal Property, including reasonable attorneys’ fees and legal expenses incurred in connection therewith, shall constitute securities so much additional Debt and shall be payable upon demand with interest at the Default Ratesold.

Appears in 1 contract

Sources: Financing and Security Agreement (First Alert Inc)

Uniform Commercial Code. Agent shall, with respect to the Personal Property, The Lender shall have all of the rights, options rights and remedies of a secured party under the Code, including without limitationapplicable Uniform Commercial Code and other applicable Laws. Upon demand by the Lender, the right Borrowers shall assemble the Collateral and make it available to the Lender, at a place designated by the Lender. The Lender or its agents may without notice from time to time enter upon the Borrowers' premises to take possession of any such property the Collateral, to remove it, to render it unusable, to process it or any part thereofotherwise prepare it for sale, and the right or to enter with legal process any premises where any such property may be foundsell or otherwise dispose of it. Any requirement of said Code for reasonable notification shall be met by mailing written notice of the sale, disposition or other intended action by the Lender with respect to Borrower the Collateral which is sent by regular mail, postage prepaid, to the Borrowers at its the address set forth in Section 31 hereof 8.1 of this Agreement, or such other address of the Borrowers which may from time to time be shown on the Lender's records, at least ten (10) days prior to such sale, disposition or other action, shall constitute commercially reasonable notice to the Borrowers. The Lender may alternatively or additionally give such notice in any other commercially reasonable manner. Nothing in this Agreement shall require the Lender to give any notice not required by applicable Laws. If any consent, approval, or authorization of any state, municipal or other governmental department, agency or authority or of any person, or any person, corporation, partnership or other entity having any interest therein, should be necessary to effectuate any sale or other event for which disposition of the Collateral, each Borrower agrees to execute all such notice is required. Any such sale applications and other instruments, and to take all other action, as may be held as required in connection with securing any such consent, approval or authorization. Each Borrower recognizes that the Lender may be unable to effect a public sale of all or a part of the Collateral consisting of securities by reason of certain prohibitions contained in the Securities Act of 1933, as amended, and other applicable federal and state Laws. The Lender may, therefore, in conjunction its discretion, take such steps as it may deem appropriate to comply with such Laws and may, for example, at any foreclosure sale of the other properties and rights constituting Collateral consisting of securities restrict the Mortgaged Property in order that the Mortgaged Property, including the Personal Property, may be sold as a single parcel if the Agent elects. The Borrower hereby agrees that if the Agent demands or attempts to take possession of the Personal Property or any portion thereof in exercise of its rights and remedies hereunder, the Borrower will promptly turn over and deliver possession thereof to the Agent, and the Borrower authorizes, to the extent the Borrower may now or hereafter lawfully grant such authority, the Agent, its employees and agents, and potential prospective bidders or purchasers as to enter upon their number, nature of business and investment intention, including, without limitation, a requirement that the Premises Persons making such purchases represent and agree to the satisfaction of the Lender that they are purchasing such securities for their account, for investment, and not with a view to the distribution or resale of any thereof. Each Borrower covenants and agrees to do or cause to be done promptly all such acts and things as the Lender may request from time to time and as may be necessary to offer and/or sell the securities or any other office, building or property where the Personal Property or part thereof in a manner which is valid and binding and in conformance with all applicable Laws. Upon any portion thereof may at the time be located (or believed to be located) and the Agent may (i) remove the same therefrom or render the same inoperable (with or without removal from such location); (ii) repair, operate, use or manage the Personal Property or any portion thereof; (iii) maintain, repair or store the Personal Property or any portion thereof; (iv) view, inspect and prepare the Personal Property or any portion thereof for sale, lease sale or disposition; (v) sell, leasethe Lender shall have the right to deliver, dispose assign and transfer to the purchaser thereof the Collateral consisting of or consume the same or bid thereon; or (vi) incorporate the Personal Property or any portion thereof into the Land or the Improvements or Fixtures and sell, convey or transfer the same. The expenses of retaking, selling and otherwise disposing of the Personal Property, including reasonable attorneys’ fees and legal expenses incurred in connection therewith, shall constitute securities so much additional Debt and shall be payable upon demand with interest at the Default Ratesold.

Appears in 1 contract

Sources: Financing and Security Agreement (Paradise Color Inc)

Uniform Commercial Code. Agent shall, with respect to the Personal Property, Lender shall have all of the rights, options rights and remedies of a secured party under the Codeapplicable Uniform Commercial Code and other applicable Laws. Upon demand by Lender, including without limitationBorrower shall assemble the Collateral and make it available to Lender, the right at a place designated by Lender. Subject to the terms of any applicable leases, Lender or its agents may without notice from time to time enter upon Borrower's or MXL's premises to take possession of any such property the Collateral, to remove it, to render it unusable, to process it or any part thereofotherwise prepare it for sale, and the right or to enter with legal process any premises where any such property may be foundsell or otherwise dispose of it. Any requirement of said Code for reasonable notification shall be met by mailing written notice of the sale, disposition or other intended action by Lender with respect to the Collateral which is sent by regular mail, postage prepaid, to Borrower or MXL at its the address set forth in Section 31 hereof 9.1 (Notices), or such other address of Borrower or MXL which may from time to time be shown on Lender's records, at least ten (10) days prior to the such sale, disposition or other action, shall constitute commercially reasonable notice to Borrower of MXL, as applicable. Lender may alternatively or additionally give such notice in any other commercially reasonable manner. Nothing in this Agreement shall require Lender to give any notice not required by applicable Laws. If any consent, approval, or authorization of any state, municipal or other Governmental Authority or of any other Person or of any Person having any interest therein, should be necessary to effectuate any sale or other event for which disposition of the Collateral, Borrower and MXL agree to execute all such notice is required. Any such sale applications and other instruments, and to take all other action, as may be held as required in connection with securing any such consent, approval or authorization. Borrower and MXL each recognizes that Lender may be unable to effect a public sale of all or a part of the Collateral consisting of Investment Property by reason of certain prohibitions contained in the Securities Act of 1933, as amended, and other applicable Federal and state Laws. Lender may, therefore, in conjunction its discretion, take such steps as it may deem appropriate to comply with such Laws and may, for example, at any foreclosure sale of the other properties and rights constituting Collateral consisting of securities restrict the Mortgaged Property in order that the Mortgaged Property, including the Personal Property, may be sold as a single parcel if the Agent elects. The Borrower hereby agrees that if the Agent demands or attempts to take possession of the Personal Property or any portion thereof in exercise of its rights and remedies hereunder, the Borrower will promptly turn over and deliver possession thereof to the Agent, and the Borrower authorizes, to the extent the Borrower may now or hereafter lawfully grant such authority, the Agent, its employees and agents, and potential prospective bidders or purchasers as to enter upon their number, nature of business and investment intention, including, without limitation, a requirement that the Premises Persons making such purchases represent and agree to the satisfaction of Lender that they are purchasing such securities for their account, for investment, and not with a view to the distribution or resale of any thereof. Borrower covenants and agrees to do or cause to be done promptly all such acts and things as Lender may request from time to time and as may be necessary to offer and/or sell the securities or any other office, building or property where the Personal Property or part thereof in a manner which is valid and binding and in conformance with all applicable Laws. Upon any portion thereof may at the time be located (or believed to be located) and the Agent may (i) remove the same therefrom or render the same inoperable (with or without removal from such location); (ii) repair, operate, use or manage the Personal Property or any portion thereof; (iii) maintain, repair or store the Personal Property or any portion thereof; (iv) view, inspect and prepare the Personal Property or any portion thereof for sale, lease sale or disposition; (v) sell, leaseLender shall have the right to deliver, dispose assign and transfer to the purchaser thereof the Collateral consisting of or consume the same or bid thereon; or (vi) incorporate the Personal Property or any portion thereof into the Land or the Improvements or Fixtures and sell, convey or transfer the same. The expenses of retaking, selling and otherwise disposing of the Personal Property, including reasonable attorneys’ fees and legal expenses incurred in connection therewith, shall constitute securities so much additional Debt and shall be payable upon demand with interest at the Default Ratesold.

Appears in 1 contract

Sources: Financing and Security Agreement (Gp Strategies Corp)

Uniform Commercial Code. Agent shall, Without limitation of the Beneficiary's rights of enforcement with respect to the Personal Property, have all the rights, options and remedies of a secured party under the Code, including without limitation, the right to the possession of any such property Collateral or any part thereofthereof in accordance with the procedures for foreclosure of real estate, the Beneficiary may exercise its rights of enforcement with respect to the Collateral or any part thereof under the Code (or under the Uniform Commercial Code in force in any other state to the extent the same is applicable law) and in conjunction with, in addition to or in substitution for those rights and remedies: (1) the right Beneficiary may enter upon Grantor's premises to enter with legal process take possession of, assemble and collect the Collateral or, to the extent and for those items of the Collateral permitted under applicable law, to render it unusable (provided that the Grantor may at its own cost, after reasonable notice and during normal business hours, make copies of any premises where any records which the Beneficiary takes possession of under this Section 4.1(b) and shall thereafter have reasonable access to such property records upon reasonable prior notice); (2) the Beneficiary may be found. Any requirement require Grantor to assemble the Collateral and make it available at a place the Beneficiary designates which is mutually convenient to allow the Beneficiary to take possession or dispose of said Code for reasonable notification shall be met by mailing the Collateral; (3) written notice mailed to Borrower at its address set forth in Section 31 hereof Grantor as provided herein at least ten (10) days prior to the sale or other event for which such notice is required. Any such sale may be held as part date of and in conjunction with any foreclosure public sale of the other properties Collateral or prior to the date after which private sale of the Collateral will be made shall constitute reasonable notice; (4) any sale made pursuant to the provisions of this paragraph shall be deemed to have been a public sale conducted in a commercially reasonable manner if held contemporaneously with and rights constituting upon the same notice as required for the sale of the Mortgaged Property under power of sale as provided in order that paragraph (c) above in this Section 4.1; (5) in the event of a foreclosure sale, whether made by Trustee under the terms hereof, or under judgment of a court, the Collateral and the other Mortgaged PropertyProperty may, including at the Personal Propertyoption of the Beneficiary, may be sold as a single parcel if whole; (6) it shall not be necessary that the Agent elects. The Borrower hereby agrees that if the Agent demands or attempts to Beneficiary take possession of the Personal Property Collateral or any portion part thereof in exercise prior to the time that any sale pursuant to the provisions of its rights this Section is conducted and remedies hereunderit shall not be necessary that the Collateral or any part thereof be present at the location of such sale; (7) with respect to application of proceeds of disposition of the Collateral under Section 4.3 hereof, the Borrower will promptly turn over costs and deliver possession thereof expenses incident to disposition shall include the Agent, and the Borrower authorizes, to the extent the Borrower may now or hereafter lawfully grant such authority, the Agent, its employees and agents, and potential bidders or purchasers to enter upon the Premises or any other office, building or property where the Personal Property or any portion thereof may at the time be located (or believed to be located) and the Agent may (i) remove the same therefrom or render the same inoperable (with or without removal from such location); (ii) repair, operate, use or manage the Personal Property or any portion thereof; (iii) maintain, repair or store the Personal Property or any portion thereof; (iv) view, inspect and prepare the Personal Property or any portion thereof for sale, lease or disposition; (v) sell, lease, dispose of or consume the same or bid thereon; or (vi) incorporate the Personal Property or any portion thereof into the Land or the Improvements or Fixtures and sell, convey or transfer the same. The reasonable expenses of retaking, selling holding, preparing for sale or lease, selling, leasing and otherwise disposing of the Personal Property, including like and the reasonable attorneys' fees and legal expenses incurred by the Beneficiary; (8) any and all statements of fact or other recitals made in connection therewithany ▇▇▇▇ of sale or assignment or other instrument evidencing any foreclosure sale hereunder as to nonpayment of the Secured Indebtedness or as to the occurrence of any default, or as to the Beneficiary having declared all of such indebtedness to be due and payable, or as to notice of time, place and terms of sale and of the properties to be sold having been duly given, or as to any other act or thing having been duly done by the Beneficiary, shall constitute be taken as prima facie evidence of the truth of the facts so much additional Debt stated and shall be payable upon demand with interest at recited; and (9) the Default RateBeneficiary may appoint or delegate any one or more persons as agent to perform any act or acts necessary or incident to any sale held by the Beneficiary, including the sending of notices and the conduct of the sale, but in the name and on behalf of the Beneficiary.

Appears in 1 contract

Sources: Security Agreement (Arabian American Development Co)

Uniform Commercial Code. Agent shall, with respect to the Personal Property, Lender shall have all of the rights, options rights and remedies of a secured party under the CodeUCC. Upon demand by Lender, including Borrower shall assemble the UCC Collateral and make it available to Lender, at a place designated by Lender. Lender or its agents may without limitationnotice from time to time enter upon Borrower’s premises to take possession of the UCC Collateral, to remove it, to render it unusable, to process it or otherwise prepare it for sale, or to sell or otherwise dispose of it. Any written notice of the right sale, disposition or other intended action by Lender with respect to the possession of any such property or any part thereofUCC Collateral which is sent by regular mail, and the right to enter with legal process any premises where any such property may be found. Any requirement of said Code for reasonable notification shall be met by mailing written notice postage prepaid, to Borrower at its the address set forth in Section 31 hereof of Borrower which may from time to time be shown on Lender’s records, at least ten (10) days prior to the such sale, disposition or other action, shall constitute commercially reasonable notice to Borrower. Lender may alternatively or additionally give such notice in any other commercially reasonable manner. Nothing in this Security Instrument shall require Lender to give any notice not required by applicable laws. If any consent, approval, or authorization of any state, municipal or other governmental department, agency or authority or of any person, or any person, corporation, partnership or other entity having any interest therein, should be necessary to effectuate any sale or other event for which disposition of the UCC Collateral, Borrower agrees to execute all such notice is required. Any such sale applications and other instruments, and to take all other action, as may be held as required in connection with securing any such consent, approval or authorization. If and to the extent any UCC Collateral consists of securities, Borrower recognizes that Lender may be unable to effect a public sale of all or a part of the UCC Collateral consisting of securities by reason of certain prohibitions contained in the Securities Act of 1933, as amended, and other applicable federal and state laws. Lender may, therefore, in conjunction its discretion, take such steps as it may deem appropriate to comply with such laws and may, for example, at any foreclosure sale of the other properties and rights constituting UCC Collateral consisting of securities restrict the Mortgaged Property in order that the Mortgaged Property, including the Personal Property, may be sold as a single parcel if the Agent elects. The Borrower hereby agrees that if the Agent demands or attempts to take possession of the Personal Property or any portion thereof in exercise of its rights and remedies hereunder, the Borrower will promptly turn over and deliver possession thereof to the Agent, and the Borrower authorizes, to the extent the Borrower may now or hereafter lawfully grant such authority, the Agent, its employees and agents, and potential prospective bidders or purchasers as to enter upon their number, nature of business and investment intention, including, without limitation, a requirement that the Premises Persons making such purchases represent and agree to the satisfaction of Lender that they are purchasing such securities for their account, for investment, and not with a view to the distribution or resale of any thereof. Borrower covenants and agrees to do or cause to be done promptly all such acts and things as Lender may request from time to time and as may be necessary to offer and/or sell the securities or any other office, building or property where the Personal Property or part thereof in a manner which is valid and binding and in conformance with all applicable laws. Upon any portion thereof may at the time be located (or believed to be located) and the Agent may (i) remove the same therefrom or render the same inoperable (with or without removal from such location); (ii) repair, operate, use or manage the Personal Property or any portion thereof; (iii) maintain, repair or store the Personal Property or any portion thereof; (iv) view, inspect and prepare the Personal Property or any portion thereof for sale, lease sale or disposition; (v) sell, leaseLender shall have the right to deliver, dispose assign and transfer to the purchaser thereof the UCC Collateral consisting of or consume the same or bid thereon; or (vi) incorporate the Personal Property or any portion thereof into the Land or the Improvements or Fixtures and sellsecurities so sold. Synovus/CHT Acworth GA Owner, convey or transfer the same. The expenses of retaking, selling and otherwise disposing of the Personal Property, including reasonable attorneys’ fees and legal expenses incurred in connection therewith, shall constitute so much additional Debt and shall be payable upon demand with interest at the Default Rate.LLC 22996-41

Appears in 1 contract

Sources: Deed to Secure Debt and Security Agreement

Uniform Commercial Code. Agent shallUpon the occurrence of an Event of Default, Lender may exercise its rights of enforcement under the Uniform Commercial Code with respect to the Personal Property, have all and in conjunction with, in addition to or in substitution for those rights and remedies: (1) Lender may enter upon the rightsProperty to take possession of, options assemble and remedies collect the Personal Property or to render it unusable; (2) Lender may require Borrower to assemble the Personal Property and make it available at a place Lender designates which is mutually convenient to allow Lender to take possession or dispose of a secured party under the Code, including without limitation, the right to the possession of any such property or any part thereof, and the right to enter with legal process any premises where any such property may be found. Any requirement of said Code for reasonable notification shall be met by mailing Personal Property; (3) written notice mailed to Borrower at its address set forth in Section 31 hereof at least as provided herein ten (10) days prior to the sale or other event for which such notice is required. Any such sale may be held as part date of and in conjunction with any foreclosure public sale of the other properties and rights constituting Personal Property or prior to the Mortgaged Property in order that the Mortgaged Property, including date after which private sale of the Personal PropertyProperty will be made shall constitute reasonable notice; (4) any sale made pursuant to the provisions of this paragraph shall be deemed to have been a public sale conducted in a commercially reasonable manner if held contemporaneously with the sale of the Property under power of sale as provided herein upon giving the same notice with respect to the sale of the Personal Property hereunder as is required for such sale of the Property under power of sale; (5) in the event of a foreclosure sale, may whether made by Trustee under the terms hereof, or under judgment of a court, the Personal Property and the remainder of the Property may, at the option of Lender, be sold as a single parcel if the Agent elects. The Borrower hereby agrees whole; (6) it shall not be necessary that if the Agent demands or attempts to Lender take possession of the Personal Property or any portion part thereof in exercise of its rights and remedies hereunder, the Borrower will promptly turn over and deliver possession thereof prior to the Agent, and the Borrower authorizes, time that any sale pursuant to the extent the Borrower may now or hereafter lawfully grant such authority, the Agent, its employees provisions of this paragraph is conducted and agents, and potential bidders or purchasers to enter upon the Premises or any other office, building or property where it shall not be necessary that the Personal Property or any portion part thereof may be present at the time be located location of such sale; (or believed 7) prior to be located) and the Agent may (i) remove the same therefrom or render the same inoperable (with or without removal from such location); (ii) repair, operate, use or manage application of proceeds of disposition of the Personal Property or any portion thereof; (iii) maintainto the secured indebtedness, repair or store such proceeds shall be applied to the Personal Property or any portion thereof; (iv) view, inspect and prepare the Personal Property or any portion thereof for sale, lease or disposition; (v) sell, lease, dispose of or consume the same or bid thereon; or (vi) incorporate the Personal Property or any portion thereof into the Land or the Improvements or Fixtures and sell, convey or transfer the same. The reasonable expenses of retaking, selling holding, preparing for sale or lease, selling, leasing and otherwise disposing of the Personal Property, including like and the reasonable attorneys’ fees and legal expenses incurred by Lender; (8) any and all statements of fact or other recitals made in connection therewithany ▇▇▇▇ of sale or assignment or other instrument evidencing any foreclosure sale hereunder as to non-payment of the indebtedness or as to the occurrence of any Event of Default, or as to Lender having declared all of such indebtedness to be due and payable, or as to notice of time, place and terms of sale and of the properties to be sold having been duly given, or as to any other act or thing having been duly done by Lender, shall constitute absent manifest error be taken as conclusive evidence of the truth of the facts so much additional Debt stated and shall be payable upon demand with interest at recited; and (9) Lender may appoint or delegate any one or more persons as agent to perform any act or acts necessary or incident to any sale held by Lender, including the Default Ratesending of notices and the conduct of sale, but in the name and on behalf of Lender.

Appears in 1 contract

Sources: Deed of Trust (TNP Strategic Retail Trust, Inc.)

Uniform Commercial Code. Agent shall, with respect to the Personal Property, Lender shall have all of the rights, options rights and remedies of a secured party under the Codeapplicable Uniform Commercial Code and other applicable Laws. Upon demand by Lender, including Borrower shall assemble the Collateral and make it available to Lender, at a place designated by Lender. Lender or its agents may without limitationnotice from time to time enter upon Borrower’s premises to take possession of the Collateral, to remove it, to render it unusable, to process it or otherwise prepare it for sale, or to sell or otherwise dispose of it. Any written notice of the right sale, disposition or other intended action by Lender with respect to the possession of any such property or any part thereofCollateral which is sent by regular mail, and the right to enter with legal process any premises where any such property may be found. Any requirement of said Code for reasonable notification shall be met by mailing written notice postage prepaid, to Borrower at its the address set forth in Section 31 hereof 11.1 (Notices), or such other address of Borrower which may from time to time be shown on Lender’s records, at least ten (10) days prior to the such sale, disposition or other action, shall constitute commercially reasonable notice to Borrower. Lender may alternatively or additionally give such notice in any other commercially reasonable manner. Nothing in this Agreement shall require Lender to give any notice not required by applicable Laws. If any consent, approval, or authorization of any state, municipal or other Governmental Authority or of any other Person or of any Person having any interest therein, should be necessary to effectuate any sale or other event for which disposition of the Collateral, Borrower agrees to execute all such notice is required. Any such sale applications and other instruments, and to take all other action, as may be held as required in connection with securing any such consent, approval or authorization. Borrower recognizes that Lender may be unable to effect a public sale of all or a part of the Collateral consisting of Investment Property by reason of certain prohibitions contained in the Securities Act of 1933, as amended, and other applicable Federal and state Laws. Lender may, therefore, in conjunction its discretion, take such steps as it may deem appropriate to comply with such Laws and may, for example, at any foreclosure sale of the other properties and rights constituting Collateral consisting of securities restrict the Mortgaged Property in order that the Mortgaged Property, including the Personal Property, may be sold as a single parcel if the Agent elects. The Borrower hereby agrees that if the Agent demands or attempts to take possession of the Personal Property or any portion thereof in exercise of its rights and remedies hereunder, the Borrower will promptly turn over and deliver possession thereof to the Agent, and the Borrower authorizes, to the extent the Borrower may now or hereafter lawfully grant such authority, the Agent, its employees and agents, and potential prospective bidders or purchasers as to enter upon their number, nature of business and investment intention, including, without limitation, a requirement that the Premises Persons making such purchases represent and agree to the satisfaction of Lender that they are purchasing such securities for their account, for investment, and not with a view to the distribution or resale of any thereof. Borrower covenants and agrees to do or cause to be done promptly all such acts and things as Lender may request from time to time and as may be necessary to offer and/or sell the securities or any other office, building or property where the Personal Property or part thereof in a manner which is valid and binding and in conformance with all applicable Laws. Upon any portion thereof may at the time be located (or believed to be located) and the Agent may (i) remove the same therefrom or render the same inoperable (with or without removal from such location); (ii) repair, operate, use or manage the Personal Property or any portion thereof; (iii) maintain, repair or store the Personal Property or any portion thereof; (iv) view, inspect and prepare the Personal Property or any portion thereof for sale, lease sale or disposition; (v) sell, leaseLender shall have the right to deliver, dispose assign and transfer to the purchaser thereof the Collateral consisting of or consume the same or bid thereon; or (vi) incorporate the Personal Property or any portion thereof into the Land or the Improvements or Fixtures and sell, convey or transfer the same. The expenses of retaking, selling and otherwise disposing of the Personal Property, including reasonable attorneys’ fees and legal expenses incurred in connection therewith, shall constitute securities so much additional Debt and shall be payable upon demand with interest at the Default Ratesold.

Appears in 1 contract

Sources: Loan and Security Agreement (Sunrise Senior Living Inc)

Uniform Commercial Code. Agent shall, with respect to the Personal Property, The Lender shall have all of the rights, options rights and remedies of a secured party under the Code, including without limitationapplicable Uniform Commercial Code and other applicable Laws. Upon demand by the Lender, the right Borrowers shall assemble the Collateral and make it available to the Lender, at a place designated by the Lender. The Lender or its agents may without notice from time to time enter upon each Borrower's premises to take possession of any such property the Collateral, to remove it, to render it unusable, to process it or any part thereofotherwise prepare it for sale, and the right or to enter with legal process any premises where any such property may be foundsell or otherwise dispose of it. Any requirement of said Code for reasonable notification shall be met by mailing written notice of the sale, disposition or other intended action by the Lender with respect to Borrower the Collateral which is sent by regular mail, postage prepaid, to the Company at its the address set forth in Section 31 hereof ARTICLE 8 of this Agreement, or such other address of the Company which may from time to time be shown on the Lender's records, at least ten (10) days prior to such sale, disposition or other action, shall constitute commercially reasonable notice to the Borrowers. The Lender may alternatively or additionally give such notice in any other commercially reasonable manner. Nothing in this Agreement shall require the Lender to give any notice not required by applicable Laws. If any consent, approval, or authorization of any state, municipal or other governmental department, agency or authority or of any person, or any person, corporation, partnership or other entity having any interest therein, should be necessary to effectuate any sale or other event for which disposition of the Collateral, the Borrowers agree to execute all such notice is required. Any such sale applications and other instruments, and to take all other action, as may be held as required in connection with securing any such consent, approval or authorization. The Borrowers recognize that the Lender may be unable to effect a public sale of all or a part of the Collateral consisting of securities by reason of certain prohibitions contained in the Securities Act of 1933, as amended, and other applicable federal and state Laws. The Lender may, therefore, in conjunction its discretion, take such steps as it may deem appropriate to comply with such Laws and may, for example, at any foreclosure sale of the other properties and rights constituting Collateral consisting of securities restrict the Mortgaged Property in order that the Mortgaged Property, including the Personal Property, may be sold as a single parcel if the Agent elects. The Borrower hereby agrees that if the Agent demands or attempts to take possession of the Personal Property or any portion thereof in exercise of its rights and remedies hereunder, the Borrower will promptly turn over and deliver possession thereof to the Agent, and the Borrower authorizes, to the extent the Borrower may now or hereafter lawfully grant such authority, the Agent, its employees and agents, and potential prospective bidders or purchasers as to enter upon their number, nature of business and investment intention, including, without limitation, a requirement that the Premises Persons making such purchases represent and agree to the satisfaction of the Lender that they are purchasing such securities for their account, for investment, and not with a view to the distribution or resale of any thereof. The Borrowers covenant and agree to do or cause to be done promptly all such acts and things as the Lender may request from time to time and as may be necessary to offer and/or sell the securities or any other office, building or property where the Personal Property or part thereof in a manner which is valid and binding and in conformance with all applicable Laws. Upon any portion thereof may at the time be located (or believed to be located) and the Agent may (i) remove the same therefrom or render the same inoperable (with or without removal from such location); (ii) repair, operate, use or manage the Personal Property or any portion thereof; (iii) maintain, repair or store the Personal Property or any portion thereof; (iv) view, inspect and prepare the Personal Property or any portion thereof for sale, lease sale or disposition; (v) sell, leasethe Lender shall have the right to deliver, dispose assign and transfer to the purchaser thereof the Collateral consisting of or consume the same or bid thereon; or (vi) incorporate the Personal Property or any portion thereof into the Land or the Improvements or Fixtures and sell, convey or transfer the same. The expenses of retaking, selling and otherwise disposing of the Personal Property, including reasonable attorneys’ fees and legal expenses incurred in connection therewith, shall constitute securities so much additional Debt and shall be payable upon demand with interest at the Default Ratesold.

Appears in 1 contract

Sources: Financing and Security Agreement (Dispatch Management Services Corp)

Uniform Commercial Code. Agent shall, with respect to the Personal Property, The Lender shall have all of the rights, options rights and remedies of a secured party under the Codeapplicable Uniform Commercial Code and other applicable Laws. Upon the occurrence and during the continuation of a Default, including without limitationto the extent permitted under applicable law, upon demand by the Lender, the right Obligors shall assemble the Collateral and make it available to the Lender at a place designated by the Lender. Upon the occurrence and during the continuation of a Default, the Lender may without notice from time to time enter upon any Obligor’s premises to take possession of any such property the Collateral, to remove it, to render it unusable, to process it or any part thereofotherwise prepare it for sale, or to sell or otherwise dispose of it. Upon the occurrence and during the right continuation of a Default, at the Lender’s direction, the Obligors shall cease to enter with legal process any premises where any such property may be foundprocess, prepare for sale, sell or otherwise dispose of the Collateral. Any requirement of said Code for reasonable notification shall be met by mailing written notice of the sale, disposition or other intended action by the Lender with respect to Borrower the Collateral which is sent by regular mail, postage prepaid, to the Obligors at its the address set forth in Section 31 hereof 8.1 (Notices) of this Agreement, or such other address of the Obligors which may from time to time be shown on the Lender’s records, at least ten (10) days prior to such sale, disposition or other action, shall constitute commercially reasonable notice to the Obligors. The Lender may alternatively or additionally give such notice in any other commercially reasonable manner. Nothing in this Agreement shall require the Lender to give any notice not required by applicable Laws. If any consent, approval, or authorization of any state, municipal or other Governmental Authority or of any other Person or of any Person having any interest therein, should be necessary to effectuate any sale or other event for which disposition of the Collateral, the Obligors agree to execute all such notice is required. Any such sale applications and other instruments, and to take all other action, as may be held as required in connection with securing any such consent, approval or authorization. The Obligors recognize that the Lender may be unable to effect a public sale of all or a part of the Collateral consisting of Securities by reason of certain prohibitions contained in the Securities Act of 1933, as amended, and other applicable Federal and state Laws. The Lender may, therefore, in conjunction its discretion, take such steps as it may deem appropriate to comply with such Laws and may, for example, at any foreclosure sale of the other properties and rights constituting Collateral consisting of securities restrict the Mortgaged Property in order that the Mortgaged Property, including the Personal Property, may be sold as a single parcel if the Agent elects. The Borrower hereby agrees that if the Agent demands or attempts to take possession of the Personal Property or any portion thereof in exercise of its rights and remedies hereunder, the Borrower will promptly turn over and deliver possession thereof to the Agent, and the Borrower authorizes, to the extent the Borrower may now or hereafter lawfully grant such authority, the Agent, its employees and agents, and potential prospective bidders or purchasers as to enter upon their number, nature of business and investment intention, including, without limitation, a requirement that the Premises Persons making such purchases represent and agree to the satisfaction of the Lender that they are purchasing such securities for their account, for investment, and not with a view to the distribution or resale of any thereof. The Obligors covenant and agree to do or cause to be done promptly all such acts and things as the Lender may request from time to time and as may be necessary to offer and/or sell the securities or any other office, building or property where the Personal Property or part thereof in a manner which is valid and binding and in conformance with all applicable Laws. Upon any portion thereof may at the time be located (or believed to be located) and the Agent may (i) remove the same therefrom or render the same inoperable (with or without removal from such location); (ii) repair, operate, use or manage the Personal Property or any portion thereof; (iii) maintain, repair or store the Personal Property or any portion thereof; (iv) view, inspect and prepare the Personal Property or any portion thereof for sale, lease sale or disposition; (v) sell, leasethe Lender shall have the right to deliver, dispose assign and transfer to the purchaser thereof the Collateral consisting of or consume the same or bid thereon; or (vi) incorporate the Personal Property or any portion thereof into the Land or the Improvements or Fixtures and sell, convey or transfer the same. The expenses of retaking, selling and otherwise disposing of the Personal Property, including reasonable attorneys’ fees and legal expenses incurred in connection therewith, shall constitute securities so much additional Debt and shall be payable upon demand with interest at the Default Ratesold.

Appears in 1 contract

Sources: Financing and Security Agreement (Optelecom-Nkf, Inc.)

Uniform Commercial Code. Agent shall, with respect to the Personal Property, Lender shall have all of the rights, options rights and remedies of a secured party under the Codeapplicable Uniform Commercial Code and other applicable Laws. Upon demand by Lender, including Borrower shall assemble the Collateral and make it available to Lender, at a place designated by Lender. Lender or its agents may without limitationnotice from time to time enter upon Borrower’s premises to take possession of the Collateral, to remove it, to render it unusable, to process it or otherwise prepare it for sale, or to sell or otherwise dispose of it. Any written notice of the right sale, disposition or other intended action by Lender with respect to the possession of any such property or any part thereofCollateral which is sent by regular mail, and the right to enter with legal process any premises where any such property may be found. Any requirement of said Code for reasonable notification shall be met by mailing written notice postage prepaid, to Borrower at its the address set forth in Section 31 hereof 8.1 (Notices), or such other address of Borrower which may from time to time be shown on Lender’s records, at least ten (10) days prior to the such sale, disposition or other action, shall constitute commercially reasonable notice to Borrower. Lender may alternatively or additionally give such notice in any other commercially reasonable manner. Nothing in this Agreement shall require Lender to give any notice not required by applicable Laws. If any consent, approval, or authorization of any state, municipal or other Governmental Authority or of any other Person or of any Person having any interest therein, should be necessary to effectuate any sale or other event for which disposition of the Collateral, Borrower agrees to execute all such notice is required. Any such sale applications and other instruments, and to take all other action, as may be held as required in connection with securing any such consent, approval or authorization. Borrower recognizes that Lender may be unable to effect a public sale of all or a part of the Collateral consisting of Investment Property by reason of certain prohibitions contained in the Securities Act of 1933, as amended, and other applicable Federal and state Laws. Lender may, therefore, in conjunction its discretion, take such steps as it may deem appropriate to comply with such Laws and may, for example, at any foreclosure sale of the other properties and rights constituting Collateral consisting of securities restrict the Mortgaged Property in order that the Mortgaged Property, including the Personal Property, may be sold as a single parcel if the Agent elects. The Borrower hereby agrees that if the Agent demands or attempts to take possession of the Personal Property or any portion thereof in exercise of its rights and remedies hereunder, the Borrower will promptly turn over and deliver possession thereof to the Agent, and the Borrower authorizes, to the extent the Borrower may now or hereafter lawfully grant such authority, the Agent, its employees and agents, and potential prospective bidders or purchasers as to enter upon their number, nature of business and investment intention, including, without limitation, a requirement that the Premises Persons making such purchases represent and agree to the satisfaction of Lender that they are purchasing such securities for their account, for investment, and not with a view to the distribution or resale of any thereof. Borrower covenants and agrees to do or cause to be done promptly all such acts and things as Lender may request from time to time and as may be necessary to offer and/or sell the securities or any other office, building or property where the Personal Property or part thereof in a manner which is valid and binding and in conformance with all applicable Laws. Upon any portion thereof may at the time be located (or believed to be located) and the Agent may (i) remove the same therefrom or render the same inoperable (with or without removal from such location); (ii) repair, operate, use or manage the Personal Property or any portion thereof; (iii) maintain, repair or store the Personal Property or any portion thereof; (iv) view, inspect and prepare the Personal Property or any portion thereof for sale, lease sale or disposition; (v) sell, leaseLender shall have the right to deliver, dispose assign and transfer to the purchaser thereof the Collateral consisting of or consume the same or bid thereon; or (vi) incorporate the Personal Property or any portion thereof into the Land or the Improvements or Fixtures and sell, convey or transfer the same. The expenses of retaking, selling and otherwise disposing of the Personal Property, including reasonable attorneys’ fees and legal expenses incurred in connection therewith, shall constitute securities so much additional Debt and shall be payable upon demand with interest at the Default Ratesold.

Appears in 1 contract

Sources: Financing and Security Agreement (Liquidity Services Inc)

Uniform Commercial Code. Agent shallFor purposes of the Delaware Uniform Commercial Code, with respect the Units shall be considered “securities in registered form” as defined in UCC Section 8-102, shall be media for investment, and shall be securities governed by Article 8 of the Delaware Uniform Commercial Code. Such designation of the Units as “securities” shall be solely for purposes of the Delaware Uniform Commercial Code and shall not indicate that they are “securities” for any other provision of law. The Unit certificates shall contain the following legends: “For purposes of the Delaware Uniform Commercial Code (the “UCC”), the Units represented by this certificate shall be considered “securities in registered form” as defined in UCC Section 8-102, shall be media for investment, and shall be securities governed by Article 8 of the UCC. Such designation of the Units as “securities” shall be solely for purposes of the UCC and shall not indicate that they are “securities” for any other provision of law. Each Interest as described more fully in the Operating Agreement of ▇▇▇▇ BR Hillsboro Village JV, LLC dated as of ____________ ___, 2010, as such agreement may be amended from time to time, (the Personal Property, have all the rights, options and remedies “Operating Agreement”) shall be considered to be a part of a secured party class consisting of all Interests but shall constitute its own series with the rights and duties assigned to it by such operating agreement. The Company shall maintain books for the purpose of registering the ownership of Units. No transfer of any Units shall be effective until the transfer of the Units is registered upon books maintained for that purpose by the Company.” “The Units represented by this certificate have not been registered with the securities and exchange commission under the CodeSecurities Act of 1933, including without limitationas amended, or under the right to the possession securities laws of any such property or any part thereof, and the right to enter with legal process any premises where any such property may be foundstate in reliance upon exemptions therefrom. Any requirement of said Code for reasonable notification shall be met by mailing written notice to Borrower at its address set forth in Section 31 hereof at least ten (10) days prior to the The sale or other disposition of the Units is restricted as stated in the Operating Agreement and in any event for which such notice is required. Any prohibited unless the Company receives assurances satisfactory to the Company (including, if required by the Company, an opinion of counsel satisfactory to it and its counsel) that such sale may or other disposition can be held made without registration under the Securities Act of 1933, as part of amended, and in conjunction with any foreclosure sale of applicable state securities laws. By acquiring the other properties and rights constituting Units represented by this certificate, the Mortgaged Property in order member represents that the Mortgaged Property, including the Personal Property, may be sold as a single parcel if the Agent elects. The Borrower hereby agrees that if the Agent demands it will not sell or attempts to take possession of the Personal Property or any portion thereof in exercise otherwise dispose of its rights and remedies hereunder, the Borrower will promptly turn over and deliver possession thereof to the Agent, and the Borrower authorizes, to the extent the Borrower may now or hereafter lawfully grant such authority, the Agent, its employees and agents, and potential bidders or purchasers to enter upon the Premises or any other office, building or property where the Personal Property or any portion thereof may at the time be located (or believed to be located) and the Agent may Units (i) remove without registration or other compliance with the same therefrom aforesaid laws and the rules and regulations issued thereunder or render the same inoperable (with or without removal from such location); (ii) repair, operate, use or manage without compliance with the Personal Property or any portion thereof; (iii) maintain, repair or store terms of the Personal Property or any portion thereof; (iv) view, inspect Operating Agreement. The Operating Agreement also provides for various other limitations and prepare obligations and all of the Personal Property or any portion terms thereof for are incorporated herein by reference. A copy of such Operating Agreement is on file at the office of the Company and is available upon request. Any attempted sale, lease transfer, pledge, hypothecation or disposition; (v) sell, lease, dispose of or consume the same or bid thereon; or (vi) incorporate the Personal Property or any portion thereof into the Land or the Improvements or Fixtures and sell, convey or transfer the same. The expenses of retaking, selling and otherwise disposing other disposition of the Personal Property, including reasonable attorneys’ fees Units represented by this certificate not in compliance with the terms and legal expenses incurred in connection therewith, shall constitute so much additional Debt and conditions of such Operating Agreement shall be payable upon demand with interest at the Default Ratevoid and of no force and effect.

Appears in 1 contract

Sources: Limited Liability Company/Joint Venture Agreement (Bluerock Enhanced Multifamily Trust, Inc.)

Uniform Commercial Code. Agent shallBeneficiary may proceed under the UCC as to all or any part of the Personalty, with respect to the Personal Property, have and in conjunction therewith may exercise all of the rights, options remedies and remedies powers of a secured party creditor under the Code, including without limitation, UCC. Upon the right to occurrence and during the possession continuation of any Event of Default, Grantor shall assemble all of the Accessories and make the same available within the Improvements. In connection therewith, Beneficiary may sell any Personalty at public or private sale, at the office of Beneficiary or elsewhere, for cash or credit and upon such property other terms as Beneficiary deems commercially reasonable. Beneficiary may sell any Personalty at one or any part thereofmore sales, and the right security interest granted hereunder shall remain in effect as to enter with legal process any premises where any the unsold portion of the Personalty. Grantor agrees that to the extent permitted by law such property sales may be foundmade without notice. Any requirement of said Code for reasonable notification shall be met If notice is required by mailing written notice to Borrower at its address set forth in Section 31 hereof at least any Legal Requirement, Grantor hereby deems ten (10) days prior advance notice of the time and place of any public or private sale reasonable notification, recognizing that if any portion of the Personalty is perishable or threatens to decline speedily in value or is of a type customarily sold on a recognized market, shorter notice may be reasonable. Beneficiary shall not be obligated to make any sale of Personalty regardless of notice of sale having been given. Beneficiary may adjourn any sale by announcement at the time and place fixed therefor, and such sale may, without further notice, be made at the time and place to which it was adjourned. In the event that any sale hereunder is not completed or is defective in the opinion of Beneficiary, Beneficiary shall have the right to cause subsequent sales to be made hereunder. Any statements of fact or other recitals made in any ▇▇▇▇ of sale, assignment, or other document representing any sale hereunder, including statements relating to the occurrence of an Event of Default, acceleration of the Secured Obligations, notice of the sale, the time, place, and terms of the sale, and other actions taken by Beneficiary in relation to the sale or other event for which such notice is required. Any such sale may be held as part conclusively relied upon by the purchaser at any sale hereunder. Beneficiary may delegate to any agent the performance of and any acts in conjunction connection with any foreclosure sale of the other properties and rights constituting the Mortgaged Property in order that the Mortgaged Propertyhereunder, including the Personal Property, may be sold as a single parcel if sending of notices and the Agent elects. The Borrower hereby agrees that if the Agent demands or attempts to take possession conduct of the Personal Property or any portion thereof in exercise of its rights and remedies hereunder, the Borrower will promptly turn over and deliver possession thereof to the Agent, and the Borrower authorizes, to the extent the Borrower may now or hereafter lawfully grant such authority, the Agent, its employees and agents, and potential bidders or purchasers to enter upon the Premises or any other office, building or property where the Personal Property or any portion thereof may at the time be located (or believed to be located) and the Agent may (i) remove the same therefrom or render the same inoperable (with or without removal from such location); (ii) repair, operate, use or manage the Personal Property or any portion thereof; (iii) maintain, repair or store the Personal Property or any portion thereof; (iv) view, inspect and prepare the Personal Property or any portion thereof for sale, lease or disposition; (v) sell, lease, dispose of or consume the same or bid thereon; or (vi) incorporate the Personal Property or any portion thereof into the Land or the Improvements or Fixtures and sell, convey or transfer the same. The expenses of retaking, selling and otherwise disposing of the Personal Property, including reasonable attorneys’ fees and legal expenses incurred in connection therewith, shall constitute so much additional Debt and shall be payable upon demand with interest at the Default Rate.

Appears in 1 contract

Sources: Credit Agreement (Heckmann Corp)

Uniform Commercial Code. Agent shallUpon the occurrence of a default, the Beneficiary may exercise its rights of enforcement with respect to the Personal Property, have all the rights, options and remedies of a secured party Collateral under the Texas Business and Commerce Code, including without limitation, the right to the possession of any such property or any part thereofas amended, and in conjunction with, in addition to or in substitution for those rights and remedies: (a) the right Beneficiary may enter upon the Property to enter with legal process any premises where any such property take possession of, assemble and collect the Collateral or to render it unusable; and (b) the Beneficiary may be found. Any requirement require Grantor to assemble the Collateral and make it available at a place the Beneficiary designates which is mutually convenient to allow the Beneficiary to take possession or dispose of said Code for reasonable notification shall be met by mailing the Collateral; and (c) written notice mailed to Borrower at its address set forth in Section 31 hereof at least Grantor as provided herein ten (10) days prior to the sale or other event for which such notice is required. Any such sale may be held as part date of and in conjunction with any foreclosure public sale of the other properties and rights constituting Collateral or prior to the date after which private sale of the Collateral will be made shall constitute reasonable notice; and (d) any sale made pursuant to the provisions of this paragraph, shall be deemed to have been a public sale conducted in a commercially reasonable manner if held contemporaneously with the sale of the Mortgaged Property in order that under power of sale as provided herein upon giving the same notice with respect to the sale of the Collateral hereunder as is required for such sale of the Mortgaged PropertyProperty under power of sale; and (e) in the event of a foreclosure sale, including whether made by the Personal PropertyTrustee under the terms hereof, may or under judgment of a court, the Collateral and the Mortgaged Property may, at the option of the Beneficiary, be sold as a single parcel if whole; and (f) it shall not be necessary that the Agent elects. The Borrower hereby agrees that if the Agent demands or attempts to Beneficiary take possession of the Personal Property Collateral or any portion part thereof in exercise of its rights and remedies hereunder, the Borrower will promptly turn over and deliver possession thereof prior to the Agent, and the Borrower authorizes, time that any sale pursuant to the extent provisions of this paragraph is conducted and it shall not be necessary that the Borrower may now or hereafter lawfully grant such authority, the Agent, its employees and agents, and potential bidders or purchasers to enter upon the Premises Collateral or any other office, building or property where the Personal Property or any portion part thereof may be present at the time location of such sale; and (g) prior to application of proceeds of disposition of the Collateral to the secured indebtedness, such proceeds shall be located (or believed applied to be located) and the Agent may (i) remove the same therefrom or render the same inoperable (with or without removal from such location); (ii) repair, operate, use or manage the Personal Property or any portion thereof; (iii) maintain, repair or store the Personal Property or any portion thereof; (iv) view, inspect and prepare the Personal Property or any portion thereof for sale, lease or disposition; (v) sell, lease, dispose of or consume the same or bid thereon; or (vi) incorporate the Personal Property or any portion thereof into the Land or the Improvements or Fixtures and sell, convey or transfer the same. The reasonable expenses of retaking, selling holding, preparing for sale or lease, selling, leasing and otherwise disposing of the Personal Property, including like and the reasonable attorneys’ attorney’s fees and legal expenses incurred by the Beneficiary; and (h) any and all statements of fact or other recitals made in connection therewithany ▇▇▇▇ of sale or assignment or other instrument evidencing any foreclosure sale hereunder as to nonpayment of the indebtedness or as to the occurrence of any default, or as to the Beneficiary having declared all of such indebtedness to be due and payable, or as to notice of time, place and terms of sale and of the properties to be sold having been duly given, or as to any other act or thing having been duly done by the Beneficiary, shall constitute be taken as prima facie evidence of the truth of the facts so much additional Debt stated and shall be payable upon demand with interest at recited; and (i) the Default RateBeneficiary may appoint or delegate any one or more persons as agent to perform any act or acts necessary or incident to any sale held by the Beneficiary, including the sending of notices and the conduct of the sale, but in the name and on behalf of the Beneficiary.

Appears in 1 contract

Sources: Deed of Trust (Behringer Harvard Opportunity REIT I, Inc.)

Uniform Commercial Code. Agent shallWith respect to the assignments set forth in Section IV of this Agreement, this Agreement shall constitute a Security Agreement for the benefit of the Surety and also a Financing Statement, both in accordance with the provisions of the Uniform Commercial Code or similar statute of every jurisdiction wherein such Code or statute is in effect, and may be so used by the Surety without in any way abrogating, restricting or limiting the rights of the Surety under this Agreement, any other agreements between or among the Surety, any Principal or Indemnitor under law, or in equity. A carbon copy, photographic copy or other reproduction of this Agreement shall be sufficient to be, and may be filed as, a Financing Statement or Security Agreement, and the Principal and Indemnitor expressly consent to and authorize such a filing by the Surety. The failure of the Surety to file this Agreement or a copy of this Agreement shall not release or excuse any of the obligations of any Principal or Indemnitor under this Agreement, or otherwise. The Surety may add such schedules to this Agreement as it deems advisable, describing more specifically items of security covered by this Assignment. Notwithstanding the foregoing, the Principal and Indemnitor shall execute and deliver to the Surety, upon its request, such further or additional instruments as may be necessary or desirable in the Surety’s sole and absolute discretion to permit or facilitate either the filing of this Agreement as a Financing Statement or Security Agreement, or the filing of any separate Financing Statement or Security Agreement, based upon this Agreement, in such states, counties, or other places as the Surety may deem necessary or advisable. The Indemnitor acknowledges and agrees that, with respect to the Personal Property, have all the any settlement of a claim against a Bond involving disposition of rights, options and remedies of a secured party remedies, claims or interests arising under the Code, including without limitation, the right or in relation to the possession Bonded Contract, such disposition will conclusively be deemed to have been commercially reasonable so long as the settlement of any such property or any part thereof, and the right to enter claim is otherwise in accordance with legal process any premises where any such property may be found. Any requirement of said Code for reasonable notification shall be met by mailing written notice to Borrower at its address the standards set forth in Section 31 hereof at least ten (10) days prior this Agreement or otherwise applicable with respect to the sale or other event for which settlement of such notice is required. Any such sale may be held as part of and in conjunction with any foreclosure sale of the other properties and rights constituting the Mortgaged Property in order that the Mortgaged Property, including the Personal Property, may be sold as a single parcel if the Agent elects. The Borrower hereby agrees that if the Agent demands or attempts to take possession of the Personal Property or any portion thereof in exercise of its rights and remedies hereunder, the Borrower will promptly turn over and deliver possession thereof to the Agent, and the Borrower authorizes, to the extent the Borrower may now or hereafter lawfully grant such authority, the Agent, its employees and agents, and potential bidders or purchasers to enter upon the Premises or any other office, building or property where the Personal Property or any portion thereof may at the time be located (or believed to be located) and the Agent may (i) remove the same therefrom or render the same inoperable (with or without removal from such location); (ii) repair, operate, use or manage the Personal Property or any portion thereof; (iii) maintain, repair or store the Personal Property or any portion thereof; (iv) view, inspect and prepare the Personal Property or any portion thereof for sale, lease or disposition; (v) sell, lease, dispose of or consume the same or bid thereon; or (vi) incorporate the Personal Property or any portion thereof into the Land or the Improvements or Fixtures and sell, convey or transfer the same. The expenses of retaking, selling and otherwise disposing of the Personal Property, including reasonable attorneys’ fees and legal expenses incurred in connection therewith, shall constitute so much additional Debt and shall be payable upon demand with interest at the Default Rateclaims.

Appears in 1 contract

Sources: General Indemnity Agreement

Uniform Commercial Code. The Agent shall, with respect to the Personal Property, shall have all of the rights, options rights and remedies of a secured party under the Code, including without limitationapplicable Uniform Commercial Code and other applicable Laws. Upon demand by the Agent, the right Borrowers shall assemble the Collateral and make it available to the Agent, at a place designated by the Agent. The Agent or its agents may without notice from time to time enter upon any Borrower’s premises to take possession of any such property the Collateral, to remove it, to render it unusable, to process it or any part thereofotherwise prepare it for sale, and the right or to enter with legal process any premises where any such property may be foundsell or otherwise dispose of it. Any requirement of said Code for reasonable notification shall be met by mailing written notice of the sale, disposition or other intended action by the Agent with respect to Borrower the Collateral which is sent by regular mail, postage prepaid, to the Borrowers at its the address set forth in Section 31 hereof 9.1 (Notices), or such other address of the Borrowers which may from time to time be shown on the Agent’s records, at least ten (10) days prior to such sale, disposition or other action, shall constitute commercially reasonable notice to the Borrowers. The Agent may alternatively or additionally give such notice in any other commercially reasonable manner. Nothing in this Agreement shall require the Agent to give any notice not required by applicable Laws. If any consent, approval, or authorization of any state, municipal or other Governmental Authority or of any other Person or of any Person having any interest therein, should be necessary to effectuate any sale or other event for which disposition of the Collateral, the Borrowers agree to execute all such notice is required. Any such sale applications and other instruments, and to take all other action, as may be held as required in connection with securing any such consent, approval or authorization. The Borrowers recognize that the Agent may be unable to effect a public sale of all or a part of the Collateral consisting of Investment Property by reason of certain prohibitions contained in the Securities Act of 1933, as amended, and other applicable Federal and state Laws. The Agent may, therefore, in conjunction its discretion, take such steps as it may deem appropriate to comply with such Laws and may, for example, at any foreclosure sale of the other properties and rights constituting Collateral consisting of securities restrict the Mortgaged Property in order that the Mortgaged Property, including the Personal Property, may be sold as a single parcel if the Agent elects. The Borrower hereby agrees that if the Agent demands or attempts to take possession of the Personal Property or any portion thereof in exercise of its rights and remedies hereunder, the Borrower will promptly turn over and deliver possession thereof to the Agent, and the Borrower authorizes, to the extent the Borrower may now or hereafter lawfully grant such authority, the Agent, its employees and agents, and potential prospective bidders or purchasers as to enter upon their number, nature of business and investment intention, including, without limitation, a requirement that the Premises Persons making such purchases represent and agree to the satisfaction of the Agent that they are purchasing such securities for their account, for investment, and not with a view to the distribution or resale of any other office, building thereof. The Borrowers covenant and agree to do or property where the Personal Property or any portion thereof may at the time be located (or believed cause to be located) done promptly all such acts and things as the Agent may (i) remove request from time to time and as may be necessary to offer and/or sell the same therefrom or render the same inoperable (with or without removal from such location); (ii) repair, operate, use or manage the Personal Property securities or any portion thereof; (iii) maintain, repair or store the Personal Property or part thereof in a manner which is valid and binding and in conformance with all applicable Laws. Upon any portion thereof; (iv) view, inspect and prepare the Personal Property or any portion thereof for sale, lease such sale or disposition; (v) sell, leasethe Agent shall have the right to deliver, dispose assign and transfer to the purchaser thereof the Collateral consisting of or consume the same or bid thereon; or (vi) incorporate the Personal Property or any portion thereof into the Land or the Improvements or Fixtures and sell, convey or transfer the same. The expenses of retaking, selling and otherwise disposing of the Personal Property, including reasonable attorneys’ fees and legal expenses incurred in connection therewith, shall constitute securities so much additional Debt and shall be payable upon demand with interest at the Default Ratesold.

Appears in 1 contract

Sources: Business Loan and Security Agreement (Vse Corp)

Uniform Commercial Code. Agent shall, with respect to the Personal Property, The Lender shall have all of the rights, options rights and remedies of a secured party under the Code, including without limitationapplicable Uniform Commercial Code and other applicable Laws. Upon demand by the Lender, the right Borrower shall assemble the Collateral and make it available to the Lender, at a place designated by the Lender. The Lender or its agents may without notice from time to time enter upon the Borrower's premises to take possession of any such property the Collateral, to remove it, to render it unusable, to process it or any part thereofotherwise prepare it for sale, and the right or to enter with legal process any premises where any such property may be foundsell or otherwise dispose of it. Any requirement of said Code for reasonable notification shall be met by mailing written notice of the sale, disposition or other intended action by the Lender with respect to the Collateral which is sent by regular mail, postage prepaid, to the Borrower at its the address set forth in Section 31 hereof 8.1 (Notices), or such other address of the Borrower which may from time to time be shown on the Lender's records, at least ten (10) days prior to such sale, disposition or other action, shall constitute commercially reasonable notice to the Borrower. The Lender may alternatively or additionally give such notice in any other commercially reasonable manner. Nothing in this Agreement shall require the Lender to give any notice not required by applicable Laws. If any consent, approval, or authorization of any state, municipal or other Governmental Authority or of any other Person or of any Person having any interest therein, should be necessary to effectuate any sale or other event for which disposition of the Collateral, the Borrower agrees to execute all such notice is required. Any such sale applications and other instruments, and to take all other action, as may be held as required in connection with securing any such consent, approval or authorization. The Borrower recognizes that the Lender may be unable to effect a public sale of all or a part of the Collateral consisting of Investment Property by reason of certain prohibitions contained in the Securities Act of 1933, as amended, and other applicable Federal and state Laws. The Lender may, therefore, in conjunction its discretion, take such steps as it may deem appropriate to comply with such Laws and may, for example, at any foreclosure sale of the other properties Collateral consisting of securities restrict the prospective bidders or purchasers as to their number, nature of business and rights constituting the Mortgaged Property in order investment intention, including, without limitation, a requirement that the Mortgaged PropertyPersons making such purchases represent and agree to the satisfaction of the Lender that they are purchasing such securities for their account, including for investment, and not with a view to the Personal Property, may be sold as a single parcel if the Agent electsdistribution or resale of any thereof. The Borrower hereby covenants and agrees that if to do or cause to be done promptly all such acts and things as the Agent demands or attempts Lender may request from time to take possession of time and as may be necessary to offer and/or sell the Personal Property securities or any portion part thereof in exercise of its rights a manner which is valid and remedies hereunderbinding and in conformance with all applicable Laws. Upon any such sale or disposition, the Borrower will promptly turn over Lender shall have the right to deliver, assign and deliver possession thereof transfer to the Agent, and purchaser thereof the Borrower authorizes, to the extent the Borrower may now or hereafter lawfully grant such authority, the Agent, its employees and agents, and potential bidders or purchasers to enter upon the Premises or any other office, building or property where the Personal Property or any portion thereof may at the time be located (or believed to be located) and the Agent may (i) remove the same therefrom or render the same inoperable (with or without removal from such location); (ii) repair, operate, use or manage the Personal Property or any portion thereof; (iii) maintain, repair or store the Personal Property or any portion thereof; (iv) view, inspect and prepare the Personal Property or any portion thereof for sale, lease or disposition; (v) sell, lease, dispose Collateral consisting of or consume the same or bid thereon; or (vi) incorporate the Personal Property or any portion thereof into the Land or the Improvements or Fixtures and sell, convey or transfer the same. The expenses of retaking, selling and otherwise disposing of the Personal Property, including reasonable attorneys’ fees and legal expenses incurred in connection therewith, shall constitute securities so much additional Debt and shall be payable upon demand with interest at the Default Ratesold.

Appears in 1 contract

Sources: Financing and Security Agreement (Sensytech Inc)

Uniform Commercial Code. The Agent shall, with respect to the Personal Property, shall have all of the rights, options rights and remedies of a secured party under the Code, including without limitationapplicable Uniform Commercial Code and other applicable Laws. Upon demand by the Agent, the right Borrowers shall assemble the Collateral and make it available to the Agent, at a place designated by the Agent. The Agent or its agents may without notice from time to time enter upon any Borrower's premises to take possession of any such property the Collateral, to remove it, to render it unusable, to process it or any part thereofotherwise prepare it for sale, and the right or to enter with legal process any premises where any such property may be foundsell or otherwise dispose of it. Any requirement of said Code for reasonable notification shall be met by mailing written notice of the sale, disposition or other intended action by the Agent with respect to Borrower the Collateral which is sent by regular mail, postage prepaid, to the Borrowers at its the address set forth in Section 31 hereof 9.1 (Notices), or such other address of the Borrowers which may from time to time be shown on the Agent's records, at least ten (10) days prior to such sale, disposition or other action, shall constitute commercially reasonable notice to the Borrowers. The Agent may alternatively or additionally give such notice in any other commercially reasonable manner. Nothing in this Agreement shall require the Agent to give any notice not required by applicable Laws. If any consent, approval, or authorization of any state, municipal or other Governmental Authority or of any other Person or of any Person having any interest therein, should be necessary to effectuate any sale or other event for which disposition of the Collateral, the Borrowers agree to execute all such notice is required. Any such sale applications and other instruments, and to take all other action, as may be held as required in connection with securing any such consent, approval or authorization. The Borrowers recognize that the Agent may be unable to effect a public sale of all or a part of the Collateral consisting of Investment Property by reason of certain prohibitions contained in the Securities Act of 1933, as amended, and other applicable Federal and state Laws. The Agent may, therefore, in conjunction its discretion, take such steps as it may deem appropriate to comply with such Laws and may, for example, at any foreclosure sale of the other properties and rights constituting Collateral consisting of securities restrict the Mortgaged Property in order that the Mortgaged Property, including the Personal Property, may be sold as a single parcel if the Agent elects. The Borrower hereby agrees that if the Agent demands or attempts to take possession of the Personal Property or any portion thereof in exercise of its rights and remedies hereunder, the Borrower will promptly turn over and deliver possession thereof to the Agent, and the Borrower authorizes, to the extent the Borrower may now or hereafter lawfully grant such authority, the Agent, its employees and agents, and potential prospective bidders or purchasers as to enter upon their number, nature of business and investment intention, including, without limitation, a requirement that the Premises Persons making such purchases represent and agree to the satisfaction of the Agent that they are purchasing such securities for their account, for investment, and not with a view to the distribution or resale of any other office, building thereof. The Borrowers covenant and agree to do or property where the Personal Property or any portion thereof may at the time be located (or believed cause to be located) done promptly all such acts and things as the Agent may (i) remove request from time to time and as may be necessary to offer and/or sell the same therefrom or render the same inoperable (with or without removal from such location); (ii) repair, operate, use or manage the Personal Property securities or any portion thereof; (iii) maintain, repair or store the Personal Property or part thereof in a manner which is valid and binding and in conformance with all applicable Laws. Upon any portion thereof; (iv) view, inspect and prepare the Personal Property or any portion thereof for sale, lease such sale or disposition; (v) sell, leasethe Agent shall have the right to deliver, dispose assign and transfer to the purchaser thereof the Collateral consisting of or consume the same or bid thereon; or (vi) incorporate the Personal Property or any portion thereof into the Land or the Improvements or Fixtures and sell, convey or transfer the same. The expenses of retaking, selling and otherwise disposing of the Personal Property, including reasonable attorneys’ fees and legal expenses incurred in connection therewith, shall constitute securities so much additional Debt and shall be payable upon demand with interest at the Default Ratesold.

Appears in 1 contract

Sources: Business Loan and Security Agreement (Vse Corp)

Uniform Commercial Code. Agent shallUpon the occurrence of a default, the ----------------------- Noteholder may exercise its rights of enforcement with respect to the Personal Property, have all the rights, options and remedies of a secured party Collateral under the Texas Business and Commerce Code, including without limitation, the right to the possession of any such property or any part thereofas amended, and in conjunction with, in addition to or in substitution for those rights and remedies: (a) the right Noteholder may enter upon the Property to enter with legal process any premises where any such property take possession of, assemble and collect the Collateral or to render it unusable; and (b) the Noteholder may be found. Any requirement require Grantor to assemble the Collateral and make it available at a place the Noteholder designates which is mutually convenient to allow the Noteholder to take possession or dispose of said Code for reasonable notification shall be met by mailing the Collateral; and (c) written notice mailed to Borrower at its address set forth in Section 31 hereof at least ten (10) Grantor as provided herein 10 days prior to the sale or other event for which such notice is required. Any such sale may be held as part date of and in conjunction with any foreclosure public sale of the other properties and rights constituting Collateral or prior to the date after which private sale of the Collateral will be made shall constitute reasonable notice; and (d) any sale made pursuant to the provisions of this paragraph shall be deemed to have been a public sale conducted in a commercially reasonable manner if held contemporaneously with the sale of the Mortgaged Property in order that under power of sale as provided herein upon giving the same notice with respect to the sale of the Collateral hereunder as is required for such sale of the Mortgaged PropertyProperty under power of sale; and (e) in the event of a foreclosure sale, including whether made by the Personal PropertyTrustee under the terms hereof, may or under judgment of a court, the Collateral and the Mortgaged Property may, at the option of the Noteholder, be sold as a single parcel if whole; and (f) it shall not be necessary that the Agent elects. The Borrower hereby agrees that if the Agent demands or attempts to Noteholder take possession of the Personal Property Collateral or any portion part thereof in exercise of its rights and remedies hereunder, the Borrower will promptly turn over and deliver possession thereof prior to the Agent, and the Borrower authorizes, time that any sale pursuant to the extent provisions of this paragraph is conducted and it shall not be necessary that the Borrower may now or hereafter lawfully grant such authority, the Agent, its employees and agents, and potential bidders or purchasers to enter upon the Premises Collateral or any other office, building or property where the Personal Property or any portion part thereof may be present at the time location of such sale; and (g) prior to application of proceeds of disposition of the Collateral to the secured indebtedness, such proceeds shall be located (or believed applied to be located) and the Agent may (i) remove the same therefrom or render the same inoperable (with or without removal from such location); (ii) repair, operate, use or manage the Personal Property or any portion thereof; (iii) maintain, repair or store the Personal Property or any portion thereof; (iv) view, inspect and prepare the Personal Property or any portion thereof for sale, lease or disposition; (v) sell, lease, dispose of or consume the same or bid thereon; or (vi) incorporate the Personal Property or any portion thereof into the Land or the Improvements or Fixtures and sell, convey or transfer the same. The reasonable expenses of retaking, selling holding, preparing for sale or lease, selling, leasing and otherwise disposing of the Personal Property, including like and the reasonable attorneys’ attorney's fees and legal expenses incurred by the Noteholder; and (h) any and all statements of fact or other recitals made in connection therewithany ▇▇▇▇ of sale or assignment or other instrument evidencing any foreclosure sale hereunder as to nonpayment of the indebtedness or as to the occurrence of any default, or as to the Noteholder having declared all of such indebtedness to be due and payable, or as to notice of time, place and terms of sale and of the properties to be sold having been duly given, or as to any other act or thing having been duly done by the Noteholder, shall constitute be taken as prima facie evidence of the truth of the facts so much additional Debt stated and shall be payable upon demand with interest at recited; and (i) the Default RateNoteholder may appoint or delegate any one or more persons as agent to perform any act or acts necessary or incident to any sale held by the Noteholder, including the sending of notices and the conduct of the sale, but in the name and on behalf of the Noteholder.

Appears in 1 contract

Sources: Deed of Trust, Mortgage and Security Agreement (Wells Real Estate Investment Trust Inc)

Uniform Commercial Code. Agent shall, with respect to the Personal Property, The Lender shall have all of the rights, options rights and remedies of a secured party under the Codeapplicable Uniform Commercial Code and other applicable Laws. Upon the occurrence and during the continuation of a Default, including without limitationto the extent permitted under applicable law, upon demand by the Lender, the right Obligors shall assemble the Collateral and make it available to the Lender at a place designated by the Lender. Upon the occurrence and during the continuation of a Default, the Lender may without notice from time to time enter upon any Obligor's premises to take possession of any such property the Collateral, to remove it, to render it unusable, to process it or any part thereofotherwise prepare it for sale, or to sell or otherwise dispose of it. Upon the occurrence and during the right continuation of a Default, at the Lender's direction, the Obligors shall cease to enter with legal process any premises where any such property may be foundprocess, prepare for sale, sell or otherwise dispose of the Collateral. Any requirement of said Code for reasonable notification shall be met by mailing written notice of the sale, disposition or other intended action by the Lender with respect to Borrower the Collateral which is sent by regular mail, postage prepaid, to the Obligors at its the address set forth in Section 31 hereof 8.1 (Notices) of this Agreement, or such other address of the Obligors which may from time to time be shown on the Lender's records, at least ten (10) days prior to such sale, disposition or other action, shall constitute commercially reasonable notice to the Obligors. The Lender may alternatively or additionally give such notice in any other commercially reasonable manner. Nothing in this Agreement shall require the Lender to give any notice not required by applicable Laws. If any consent, approval, or authorization of any state, municipal or other Governmental Authority or of any other Person or of any Person having any interest therein, should be necessary to effectuate any sale or other event for which disposition of the Collateral, the Obligors agree to execute all such notice is required. Any such sale applications and other instruments, and to take all other action, as may be held as required in connection with securing any such consent, approval or authorization. The Obligors recognize that the Lender may be unable to effect a public sale of all or a part of the Collateral consisting of Securities by reason of certain prohibitions contained in the Securities Act of 1933, as amended, and other applicable Federal and state Laws. The Lender may, therefore, in conjunction its discretion, take such steps as it may deem appropriate to comply with such Laws and may, for example, at any foreclosure sale of the other properties and rights constituting Collateral consisting of securities restrict the Mortgaged Property in order that the Mortgaged Property, including the Personal Property, may be sold as a single parcel if the Agent elects. The Borrower hereby agrees that if the Agent demands or attempts to take possession of the Personal Property or any portion thereof in exercise of its rights and remedies hereunder, the Borrower will promptly turn over and deliver possession thereof to the Agent, and the Borrower authorizes, to the extent the Borrower may now or hereafter lawfully grant such authority, the Agent, its employees and agents, and potential prospective bidders or purchasers as to enter upon their number, nature of business and investment intention, including, without limitation, a requirement that the Premises Persons making such purchases represent and agree to the satisfaction of the Lender that they are purchasing such securities for their account, for investment, and not with a view to the distribution or resale of any thereof. The Obligors covenant and agree to do or cause to be done promptly all such acts and things as the Lender may request from time to time and as may be necessary to offer and/or sell the securities or any other office, building or property where the Personal Property or part thereof in a manner which is valid and binding and in conformance with all applicable Laws. Upon any portion thereof may at the time be located (or believed to be located) and the Agent may (i) remove the same therefrom or render the same inoperable (with or without removal from such location); (ii) repair, operate, use or manage the Personal Property or any portion thereof; (iii) maintain, repair or store the Personal Property or any portion thereof; (iv) view, inspect and prepare the Personal Property or any portion thereof for sale, lease sale or disposition; (v) sell, leasethe Lender shall have the right to deliver, dispose assign and transfer to the purchaser thereof the Collateral consisting of or consume the same or bid thereon; or (vi) incorporate the Personal Property or any portion thereof into the Land or the Improvements or Fixtures and sell, convey or transfer the same. The expenses of retaking, selling and otherwise disposing of the Personal Property, including reasonable attorneys’ fees and legal expenses incurred in connection therewith, shall constitute securities so much additional Debt and shall be payable upon demand with interest at the Default Ratesold.

Appears in 1 contract

Sources: Financing and Security Agreement (Optelecom Inc)

Uniform Commercial Code. Agent shall, with respect to the Personal Property, The Lender shall have all of the rights, options rights and remedies of a secured party under the Code, including without limitationapplicable Uniform Commercial Code and other applicable Laws. Upon demand by the Lender, the right Borrower shall assemble the Collateral and make it available to the Lender, at a place designated by the Lender. The Lender or its agents may without notice from time to time enter upon the Borrower’s premises to take possession of any such property the Collateral, to remove it, to render it unusable, to process it or any part thereofotherwise prepare it for sale, and the right or to enter with legal process any premises where any such property may be foundsell or otherwise dispose of it. Any requirement of said Code for reasonable notification shall be met by mailing written notice of the sale, disposition or other intended action by the Lender with respect to the Collateral which is sent by regular mail, postage prepaid, to the Borrower at its the address set forth in Section 31 hereof 8.1 of this Agreement, or such other address of the Borrower which may from time to time be shown on the Lender’s records, at least ten (10) days prior to such sale, disposition or other action, shall constitute commercially reasonable notice to the Borrower. The Lender may alternatively or additionally give such notice in any other commercially reasonable manner. Nothing in this Agreement shall require the Lender to give any notice not required by applicable Laws. If any consent, approval, or authorization of any state, municipal or other governmental department, agency or authority or of any person, or any person, corporation, partnership or other entity having any interest therein, should be necessary to effectuate any sale or other event for which disposition of the Collateral, the Borrower agrees to execute all such notice is required. Any such sale applications and other instruments, and to take all other action, as may be held as required in connection with securing any such consent, approval or authorization. The Borrower recognizes that the Lender may be unable to effect a public sale of all or a part of the Collateral consisting of Investment Property by reason of certain prohibitions contained in the Securities Act of 1933, as amended, and other applicable federal and state Laws. The Lender may, therefore, in conjunction its discretion, take such steps as it may deem appropriate to comply with such Laws and may, for example, at any foreclosure sale of the other properties Collateral consisting of securities restrict the prospective bidders or purchasers as to their number, nature of business and rights constituting the Mortgaged Property in order investment intention, including, without limitation, a requirement that the Mortgaged PropertyPersons making such purchases represent and agree to the satisfaction of the Lender that they are purchasing such securities for their account, including for investment, and not with a view to the Personal Property, may be sold as a single parcel if the Agent electsdistribution or resale of any thereof. The Borrower hereby covenants and agrees that if to do or cause to be done promptly all such acts and things as the Agent demands or attempts Lender may request from time to take possession of time and as may be necessary to offer and/or sell the Personal Property securities or any portion part thereof in exercise of its rights a manner which is valid and remedies hereunderbinding and in conformance with all applicable Laws. Upon any such sale or disposition, the Borrower will promptly turn over Lender shall have the right to deliver, assign and deliver possession thereof transfer to the Agent, and purchaser thereof the Borrower authorizes, to the extent the Borrower may now or hereafter lawfully grant such authority, the Agent, its employees and agents, and potential bidders or purchasers to enter upon the Premises or any other office, building or property where the Personal Property or any portion thereof may at the time be located (or believed to be located) and the Agent may (i) remove the same therefrom or render the same inoperable (with or without removal from such location); (ii) repair, operate, use or manage the Personal Property or any portion thereof; (iii) maintain, repair or store the Personal Property or any portion thereof; (iv) view, inspect and prepare the Personal Property or any portion thereof for sale, lease or disposition; (v) sell, lease, dispose Collateral consisting of or consume the same or bid thereon; or (vi) incorporate the Personal Property or any portion thereof into the Land or the Improvements or Fixtures and sell, convey or transfer the same. The expenses of retaking, selling and otherwise disposing of the Personal Property, including reasonable attorneys’ fees and legal expenses incurred in connection therewith, shall constitute securities so much additional Debt and shall be payable upon demand with interest at the Default Ratesold.

Appears in 1 contract

Sources: Financing and Security Agreement (Pec Solutions Inc)

Uniform Commercial Code. Agent shall, with respect to the Personal Property, The Lender shall have all of the rights, options rights and remedies of a secured party under the Code, including without limitationapplicable Uniform Commercial Code and other applicable Laws. Upon demand by the Lender, the right Borrower shall assemble the Collateral and make it available to the Lender, at a place designated by the Lender. The Lender or its agents may without notice from time to time enter upon the Borrower's premises to take possession of any such property the Collateral, to remove it, to render it unusable, to process it or any part thereofotherwise prepare it for sale, and the right or to enter with legal process any premises where any such property may be foundsell or otherwise dispose of it. Any requirement of said Code for reasonable notification shall be met by mailing written notice of the sale, disposition or other intended action by the Lender with respect to the Collateral which is sent by regular mail, postage prepaid, to the Borrower at its the address set forth in Section 31 hereof 8.1 of this Agreement, or such other address of the Borrower which may from time to time be shown on the Lender's records, at least ten (10) days prior to such sale, disposition or other action, shall constitute commercially reasonable notice to the Borrower. The Lender may alternatively or additionally give such notice in any other commercially reasonable manner. Nothing in this Agreement shall require the Lender to give any notice not required by applicable Laws. If any consent, approval, or authorization of any state, municipal or other governmental department, agency or authority or of any person, or any person, corporation, partnership or other entity having any interest therein, should be necessary to effectuate any sale or other event for which disposition of the Collateral, the Borrower agrees to execute all such notice is required. Any such sale applications and other instruments, and to take all other action, as may be held as required in connection with securing any such consent, approval or authorization. The Borrower recognizes that the Lender may be unable to effect a public sale of all or a part of the Collateral consisting of securities by reason of certain prohibitions contained in the Securities Act of 1933, as amended, and other applicable federal and state Laws. The Lender may, therefore, in conjunction its discretion, take such steps as it may deem appropriate to comply with such Laws and may, for example, at any foreclosure sale of the other properties Collateral consisting of securities restrict the prospective bidders or purchasers as to their number, nature of business and rights constituting the Mortgaged Property in order investment intention, including, without limitation, a requirement that the Mortgaged PropertyPersons making such purchases represent and agree to the satisfaction of the Lender that they are purchasing such securities for their account, including for investment, and not with a view to the Personal Property, may be sold as a single parcel if the Agent electsdistribution or resale of any thereof. The Borrower hereby covenants and agrees that if to do or cause to be done promptly all such acts and things as the Agent demands or attempts Lender may request from time to take possession of time and as may be necessary to offer and/or sell the Personal Property securities or any portion part thereof in exercise of its rights a manner which is valid and remedies hereunderbinding and in conformance with all applicable Laws. Upon any such sale or disposition, the Borrower will promptly turn over Lender shall have the right to deliver, assign and deliver possession thereof transfer to the Agent, and purchaser thereof the Borrower authorizes, to the extent the Borrower may now or hereafter lawfully grant such authority, the Agent, its employees and agents, and potential bidders or purchasers to enter upon the Premises or any other office, building or property where the Personal Property or any portion thereof may at the time be located (or believed to be located) and the Agent may (i) remove the same therefrom or render the same inoperable (with or without removal from such location); (ii) repair, operate, use or manage the Personal Property or any portion thereof; (iii) maintain, repair or store the Personal Property or any portion thereof; (iv) view, inspect and prepare the Personal Property or any portion thereof for sale, lease or disposition; (v) sell, lease, dispose Collateral consisting of or consume the same or bid thereon; or (vi) incorporate the Personal Property or any portion thereof into the Land or the Improvements or Fixtures and sell, convey or transfer the same. The expenses of retaking, selling and otherwise disposing of the Personal Property, including reasonable attorneys’ fees and legal expenses incurred in connection therewith, shall constitute securities so much additional Debt and shall be payable upon demand with interest at the Default Ratesold.

Appears in 1 contract

Sources: Financing and Security Agreement (Glasstech Inc)

Uniform Commercial Code. Agent shall, with respect to the Personal Property, The Lender shall have all of the rights, options rights and remedies of a secured party under the Code, including without limitationapplicable Uniform Commercial Code and other applicable Laws. Upon demand by the Lender, the right Borrower shall assemble the Collateral and make it available to the Lender, at a place designated by the Lender. The Lender or its agents may without notice from time to time enter upon the Borrower's premises to take possession of any such property the Collateral, to remove it, to render it unusable, to process it or any part thereofotherwise prepare it for sale, and the right or to enter with legal process any premises where any such property may be foundsell or otherwise dispose of it. Any requirement of said Code for reasonable notification shall be met by mailing written notice of the sale, disposition or other intended action by the Lender with respect to the Collateral which is sent by regular mail, postage prepaid, to the Borrower at its the address set forth in Section 31 hereof 8.1 of this Agreement, or such other address of the Borrower which may from time to time be shown on the Lender's records, at least ten (10) days prior to such sale, disposition or other action, shall constitute commercially reasonable notice to the Borrower. The Lender may alternatively or additionally give such notice in any other commercially reasonable manner. Nothing in this Agreement shall require the Lender to give any notice not required by applicable Laws. If any consent, approval, or authorization of any state, municipal or other governmental department, agency or authority or of any person, or any person, corporation, partnership or other entity having any interest therein, should be necessary to effectuate any sale or other event for which disposition of the Collateral, the Borrower agrees to execute all such notice is required. Any such sale applications and other instruments, and to take all other action, as may be held as required in connection with securing any such consent, approval or authorization. The Borrower recognizes that the Lender may be unable to effect a public sale of all or a part of the Collateral consisting of Investment Property by reason of certain prohibitions contained in the Securities Act of 1933, as amended, and other applicable federal and state Laws. The Lender may, therefore, in conjunction its discretion, take such steps as it may deem appropriate to comply with such Laws and may, for example, at any foreclosure sale of the other properties Collateral consisting of securities restrict the prospective bidders or purchasers as to their number, nature of business and rights constituting the Mortgaged Property in order investment intention, including, without limitation, a requirement that the Mortgaged PropertyPersons making such purchases represent and agree to the satisfaction of the Lender that they are purchasing such securities for their account, including for investment, and not with a view to the Personal Property, may be sold as a single parcel if the Agent electsdistribution or resale of any thereof. The Borrower hereby covenants and agrees that if to do or cause to be done promptly all such acts and things as the Agent demands or attempts Lender may request from time to take possession of time and as may be necessary to offer and/or sell the Personal Property securities or any portion part thereof in exercise of its rights a manner which is valid and remedies hereunderbinding and in conformance with all applicable Laws. Upon any such sale or disposition, the Borrower will promptly turn over Lender shall have the right to deliver, assign and deliver possession thereof transfer to the Agent, and purchaser thereof the Borrower authorizes, to the extent the Borrower may now or hereafter lawfully grant such authority, the Agent, its employees and agents, and potential bidders or purchasers to enter upon the Premises or any other office, building or property where the Personal Property or any portion thereof may at the time be located (or believed to be located) and the Agent may (i) remove the same therefrom or render the same inoperable (with or without removal from such location); (ii) repair, operate, use or manage the Personal Property or any portion thereof; (iii) maintain, repair or store the Personal Property or any portion thereof; (iv) view, inspect and prepare the Personal Property or any portion thereof for sale, lease or disposition; (v) sell, lease, dispose Collateral consisting of or consume the same or bid thereon; or (vi) incorporate the Personal Property or any portion thereof into the Land or the Improvements or Fixtures and sell, convey or transfer the same. The expenses of retaking, selling and otherwise disposing of the Personal Property, including reasonable attorneys’ fees and legal expenses incurred in connection therewith, shall constitute securities so much additional Debt and shall be payable upon demand with interest at the Default Ratesold.

Appears in 1 contract

Sources: Financing and Security Agreement (Pec Solutions Inc)

Uniform Commercial Code. Agent shallUpon the occurrence of an Event of Default, Obligee may exercise its rights of enforcement with respect to the Personal Property, have all the rights, options and remedies of a secured party Collateral under the Texas Business and Commerce Code, including without limitation, the right to the possession of any such property or any part thereofas amended, and in conjunction with, in addition to or in substitution for those rights and remedies: (a) Obligee may enter upon the right Property to enter with legal process any premises where any such property take possession of, assemble and collect the Collateral or to render it unusable; and (b) Obligee may be found. Any requirement require Grantor to assemble the Collateral and make it available at a place Obligee designates which is mutually convenient to allow Obligee to take possession or dispose of said Code for reasonable notification shall be met by mailing the Collateral; and (c) written notice mailed to Borrower at its address set forth in Section 31 hereof at least ten (10) Grantor as provided herein 10 days prior to the sale or other event for which such notice is required. Any such sale may be held as part date of and in conjunction with any foreclosure public sale of the other properties Collateral or prior to the date after which private sale of the Collateral will be made shall constitute reasonable notice; and (d) any sale made pursuant to the provisions of this Section shall be deemed to have been a public sale conducted in a commercially reasonable manner if held contemporaneously with the sale of the Real Property under power of sale as provided herein upon giving the same notice with respect to the sale of the Collateral hereunder as is required for such sale of the Real Property under power of sale; and (e) in the event of a foreclosure sale, whether made by the Trustee under the terms hereof, or under judgment of a court, the Collateral and rights constituting the Mortgaged Real Property in order that may, at the Mortgaged Propertyoption of Obligee, including the Personal Property, may be sold as a single parcel if the Agent elects. The Borrower hereby agrees whole; and (f) it shall not be necessary that if the Agent demands or attempts to Obligee take possession of the Personal Property Collateral or any portion part thereof in exercise of its rights and remedies hereunder, the Borrower will promptly turn over and deliver possession thereof prior to the Agent, and the Borrower authorizes, time that any sale pursuant to the extent provisions of this Section is conducted and it shall not be necessary that the Borrower may now or hereafter lawfully grant such authority, the Agent, its employees and agents, and potential bidders or purchasers to enter upon the Premises Collateral or any other office, building or property where the Personal Property or any portion part thereof may be present at the time location of such sale; and (g) prior to application of proceeds of disposition of the Collateral to the secured obligations, such proceeds shall be located (or believed applied to be located) and the Agent may (i) remove the same therefrom or render the same inoperable (with or without removal from such location); (ii) repair, operate, use or manage the Personal Property or any portion thereof; (iii) maintain, repair or store the Personal Property or any portion thereof; (iv) view, inspect and prepare the Personal Property or any portion thereof for sale, lease or disposition; (v) sell, lease, dispose of or consume the same or bid thereon; or (vi) incorporate the Personal Property or any portion thereof into the Land or the Improvements or Fixtures and sell, convey or transfer the same. The reasonable expenses of retaking, selling holding, preparing for sale or lease, selling, leasing and otherwise disposing of the Personal Property, including like and the reasonable attorneys’ attorney’s fees and legal expenses incurred by ▇▇▇▇▇▇▇; and (h) any and all statements of fact or other recitals made in connection therewithany bill of sale or assignment or other instrument evidencing any foreclosure sale hereunder as to nonpayment of the obligations or as to the occurrence of any Event of Default, or as to Obligee having declared all of such obligations to be due and payable, or as to notice of time, place and terms of sale and of the properties to be sold having been duly given, or as to any other act or thing having been duly done by Obligee, shall constitute be taken as prima facie evidence of the truth of the facts so much additional Debt stated and shall be payable upon demand with interest at recited; and (i) Obligee may appoint or delegate any one or more persons as agent to perform any act or acts necessary or incident to any sale held by Obligee, including the Default Ratesending of notices and the conduct of the sale, but in the name and on behalf of Obligee.

Appears in 1 contract

Sources: Master Development Agreement

Uniform Commercial Code. Agent shall, with respect to the Personal Property, The Lender shall have all of the rights, options rights and remedies of a secured party under the Code, including without limitationapplicable Uniform Commercial Code and other applicable Laws. Upon demand by the Lender, the right Borrower shall assemble the Collateral and make it available to the Lender, at a place designated by the Lender. The Lender or its agents may without notice from time to time enter upon the Borrower's premises to take possession of any such property the Collateral, to remove it, to render it unusable, to process it or any part thereofotherwise prepare it for sale, and or to sell or otherwise dispose of it. At the right Lender's direction, the Borrower shall cease to enter with legal process any premises where any such property may be foundprocess, prepare for sale, sell or otherwise dispose of the Collateral. Any requirement of said Code for reasonable notification shall be met by mailing written notice of the sale, disposition or other intended action by the Lender with respect to the Collateral which is sent by regular mail, postage prepaid, to the Borrower at its address their respective addresses set forth in Section 31 hereof 8.1 of this Agreement, or such other address of the Borrower which may from time to time be shown on the Lender's records, at least ten (10) days prior to such sale,disposition or other action, shall constitute commercially reasonable notice to the Borrower. The Lender may alternatively or additionally give such notice in any other commercially reasonable manner. Nothing in this Agreement shall require the Lender to give any notice not required by applicable Laws or not required by the specific terms of this Agreement. If any consent, approval, or authorization of any state, municipal or other Governmental Authority or of any other Person or of any Person having any interest therein, should be necessary to effectuate any sale or other event for which 109 disposition of the Collateral, the Borrower agrees to execute all such notice is required. Any such sale applications and other instruments, and to take all other action, as may be held as required in connection with securing any such consent, approval or authorization. The Borrower recognizes that the Lender may be unable to effect a public sale of all or a part of the Collateral consisting of Securities by reason of certain prohibitions contained in the Securities Act of 1933, as amended, and in conjunction other applicable Federal and state Laws. The Lender may, therefore, take such steps as it may deem appropriate to comply with such Laws and may, for example, at any foreclosure sale of the other properties Collateral consisting of Securities restrict the prospective bidders or purchasers as to their number, nature of business and rights constituting the Mortgaged Property in order investment intention, including, without limitation, a requirement that the Mortgaged PropertyPersons making such purchases represent and agree to the satisfaction of the Lender that they are purchasing such Securities for their account, including for investment, and not with a view to the Personal Property, may be sold as a single parcel if the Agent electsdistribution or resale of any thereof. The Borrower hereby covenants and agrees that if to do or cause to be done promptly all such acts and things as the Agent demands or attempts Lender may request from time to take possession of time and as may be necessary to offer and/or sell the Personal Property Securities or any portion part thereof in exercise of its rights a manner which is valid and remedies hereunderbinding and in conformance with all applicable Laws. Upon any such sale or disposition, the Borrower will promptly turn over Lender shall have the right to deliver, assign and deliver possession thereof transfer to the Agent, and purchaser thereof the Borrower authorizes, to the extent the Borrower may now or hereafter lawfully grant such authority, the Agent, its employees and agents, and potential bidders or purchasers to enter upon the Premises or any other office, building or property where the Personal Property or any portion thereof may at the time be located (or believed to be located) and the Agent may (i) remove the same therefrom or render the same inoperable (with or without removal from such location); (ii) repair, operate, use or manage the Personal Property or any portion thereof; (iii) maintain, repair or store the Personal Property or any portion thereof; (iv) view, inspect and prepare the Personal Property or any portion thereof for sale, lease or disposition; (v) sell, lease, dispose Collateral consisting of or consume the same or bid thereon; or (vi) incorporate the Personal Property or any portion thereof into the Land or the Improvements or Fixtures and sell, convey or transfer the same. The expenses of retaking, selling and otherwise disposing of the Personal Property, including reasonable attorneys’ fees and legal expenses incurred in connection therewith, shall constitute Securities so much additional Debt and shall be payable upon demand with interest at the Default Ratesold.

Appears in 1 contract

Sources: Financing and Security Agreement (Chatwins Group Inc)

Uniform Commercial Code. Agent shallUpon the occurrence of a default, the Noteholder may exercise its rights of enforcement with respect to the Personal Property, have all the rights, options and remedies of a secured party Collateral under the Texas Business and Commerce Code, including without limitation, the right to the possession of any such property or any part thereofas amended, and in conjunction with, in addition to or in substitution for those rights and remedies: (a) the right Noteholder may enter upon the Property to enter with legal process any premises where any such property take possession of, assemble and collect the Collateral or to render it unusable; and (b) the Noteholder may be found. Any requirement require Grantor to assemble the Collateral and make it available at a place the Noteholder designates which is mutually convenient to allow the Noteholder to take possession or dispose of said Code for reasonable notification shall be met by mailing the Collateral; and (c) written notice mailed to Borrower at its address set forth in Section 31 hereof at least ten Grantor as provided herein five (105) days prior to the sale or other event for which such notice is required. Any such sale may be held as part date of and in conjunction with any foreclosure public sale of the other properties and rights constituting Collateral or prior to the date after which private sale of the Collateral will be made shall constitute reasonable notice; and (d) any sale made pursuant to the provisions of this paragraph shall be deemed to have been a public sale conducted in a commercially reasonable manner if held contemporaneously with the sale of the Mortgaged Properly under power of sale as provided herein upon giving the same notice with respect to the sale of the Collateral hereunder as is required for such sale of the Mortgaged Property under power of sale; and (e) in order that the event of a foreclosure sale, whether made by the Trustee under the terms hereof, or under judgment of a court, the Collateral and the Mortgaged PropertyProperty may, including at the Personal Propertyoption of the Noteholder, may be sold as a single parcel if whole; and (f) it shall not be necessary that the Agent elects. The Borrower hereby agrees that if the Agent demands or attempts to Noteholder take possession of the Personal Property Collateral or any portion part thereof in exercise of its rights and remedies hereunder, the Borrower will promptly turn over and deliver possession thereof prior to the Agent, and the Borrower authorizes, time that any sale pursuant to the extent provisions of this paragraph is conducted and it shall not be necessary that the Borrower may now or hereafter lawfully grant such authority, the Agent, its employees and agents, and potential bidders or purchasers to enter upon the Premises Collateral or any other office, building or property where the Personal Property or any portion part thereof may be present at the time location of such sale; and (g) prior to application of proceeds of disposition of the Collateral to the secured indebtedness, such proceeds shall be located (or believed applied to be located) and the Agent may (i) remove the same therefrom or render the same inoperable (with or without removal from such location); (ii) repair, operate, use or manage the Personal Property or any portion thereof; (iii) maintain, repair or store the Personal Property or any portion thereof; (iv) view, inspect and prepare the Personal Property or any portion thereof for sale, lease or disposition; (v) sell, lease, dispose of or consume the same or bid thereon; or (vi) incorporate the Personal Property or any portion thereof into the Land or the Improvements or Fixtures and sell, convey or transfer the same. The reasonable expenses of retaking, selling holding, preparing for sale or lease, selling, leasing and otherwise disposing of the Personal Property, including like and the reasonable attorneys’ attorney's fees and legal expenses incurred by the Noteholder; and (h) any and all statements of fact or other recitals made in connection therewithany ▇▇▇▇ of sale or assignment or other instrument evidencing any foreclosure sale hereunder as to nonpayment of the indebtedness or as to the occurrence of any default, or as to the Noteholder having declared all of such indebtedness to be due and payable, or as to notice of time, place and terms of sale and of the properties to be sold having been duly given, or as to any other act or thing having been duly done by the Noteholder, shall constitute be taken as prima facie evidence of the truth of the facts so much additional Debt stated and shall be payable upon demand with interest at recited; and (i) the Default RateNoteholder may appoint or delegate any one or more persons as agent to perform any act or acts necessary or incident to any sale held by the Noteholder, including the sending of notices and the conduct of the sale, but in the name and on behalf of the Noteholder.

Appears in 1 contract

Sources: Deed of Trust, Mortgage and Security Agreement (Emeritus Corp\wa\)