Common use of Wxxxx Fargo’s Right to Occupy Company’s Premises Clause in Contracts

Wxxxx Fargo’s Right to Occupy Company’s Premises. Company hereby grants to Wxxxx Fargo the right, at any time during a Default Period and without notice or consent, to take exclusive possession of all locations where Company conducts its business or has any rights of possession, including the locations described on Exhibit B (the “Premises”), until the earlier of (i) payment in full and discharge of all Indebtedness and termination of the Line of Credit, or (ii) final sale or disposition of all items constituting Collateral and delivery of those items to purchasers.

Appears in 3 contracts

Samples: Credit and Security Agreement (Merrimac Industries Inc), Credit and Security Agreement (Iridex Corp), Credit and Security Agreement (Iridex Corp)

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Wxxxx Fargo’s Right to Occupy Company’s Premises. Company hereby grants to Wxxxx Fargo the right, at any time during a Default Period and without notice or consent, to take non-exclusive possession of all locations where Company conducts its business or has any rights of possession, including without limitation the locations described on Exhibit B (the “Premises”), until the earlier of (i) payment in full and discharge of all Indebtedness and termination of the Line of Credit, or (ii) final sale or disposition of all items constituting Collateral and delivery of those items to purchasers.

Appears in 1 contract

Samples: Credit and Security Agreement (Spectranetics Corp)

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